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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
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