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Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on the day and ending the session down to just 1,193 points, which is almost half of where it stood during the final weeks of 2011. Leading the plunge was the Capesize sector which yesterday lost 5.82%, with the BCI (Baltic Capesize Index) ending down by 5.82%, while Panamaxes were also heavily hit, falling by an additional 4.26%.
In its latest weekly report, Fearnleys said on the Capesize market that "history repeats itself - with the new year starting with lack of cargoes and too many ships, just like the beginning of year 2011. We have seen some activity on the West Australia/China route but rates have been dropping and time being around mid 8´s. Now the activity x W.Australia is basically stopped due to cyclone. For the fronthaul, bids/offers are presently USD 21 against 22 and the short period market is dead, with FFA values suggesting these rates are in the lower 10,000s dly which does not make sense for most owners" said the shipbroker.
On a similar note, Shiptrade mentioned that " the market dropped heavily and pessimism took over. The average of the four T/C Routes decreased by USD 12,000, closing the week at USD 15,500 and this was reflected on the BDI which recorded a free fall of 983 points. Rates for front haul trips concluded at USD 32,500 per day and the T/A round, which was heavily affected by the rainfalls in Colombia, concluded at around USD 14,500, both significantly less than the week before. In the Pacific the majors appeared relatively quiet ending up at declining levels of USD 9.00 pmt towards the close for the Dampier/Qingdao. Owners preferred to ballast to Brazil or South Africa as west Australia lacked cargos followed by the huge amount of available tonnage in the East. Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus freight rates are expected to stay sensitive to iron ore price developments Mining companies will prefer to sell their production in larger volumes rather than higher prices, as long as China appears ready to purchase" said Shiptrade.
Meanwhile, on the Panamax front, Fearnleys said that it "continued its softening trend, especially in the Pacific. In Q1 last year, the situation was quite similar and seems history is
repeating itself. On Tuesday this week, there were more activity but the instant burst of excitement and activity was soon replaced with the tough facts. The open vessels are simply out numbering the available cargoes hence rates continue to slip. China´s coal stocks are high after the rally in coal cgos from especially Indonesia prior Christmas. This is not helping the Pacific market and causing owners to offer in at lower levels than what´s last done. We are in between two grains seasons thus we do not expect any boom in the activity for the ECSA market either in the short term. In Australia, Port Hedland is closed down due to the approaching Tropical Cyclone Heidi. Tarvs now being fixed at around USD 13k while the fronthauls in the low/mid 20´s. Pac rounds keeps slipping and now achieve in the region of USD 8/9k" said Fearnleys.
Shiptrade also mentioned that "the first fixtures of the year followed the same decreasing patterns as the last week of 2011. In the Atlantic Basin the lack of Mid January cargoes in Continent led the owners ballast their ships towards USG/USEC. In the Med the market was really quiet as well, which was no surprise due to the past New Year’s Holiday. On the other hand owners who were keen to call Far East had to compete with the ballasters from North China/Korea. In the Pacific Basin the week started with optimism as LME vessels were reported at 10-11,000 basis delivery North China for Pacific rounds. However, the week closed with many similar vessels being reported at USD 9-10,000 basis delivery North China for same route. The average time charter rate of the four assessment routes dropped about USD 1,100 USD to 12,200 per day".
As for the Supramax trades, Shiptrade, a Piraeus-based shipbroker said that "rates dropped both at Atlantic and Pacific. On the Atlantic side owners faced a lack of cargoes in Continent and high competition which led them to ballast at USG. There, although some few fresh cargoes came out market decreased further due to the too many available vessels at the region. Trips to Persian Gulf and West Coast India were fixed at USD 29,000 levels and Transatlantic trips to Skaw/Passero at USD 24,000. Also Med was weak with trips to USG rating at USD 4-5,000 and front haul trips fixed around a lower USD 22,000. On the Pacific rates dropped further given that vessels from china were fixed at USD 5,000 for Indonesian round voyage with nickel ore. The imminent Chinese New Year’s combined with the abundance of existing and new building tonnages do not leave much hope for market revitalization, at least for the month to come" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Parliament of New Zealand
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
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