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Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benchmark in terms of tracking freight rates, the BDI (Baltic Dry Index) to an almost 1-year low of just 1,013 points, effectively erasing the gains made during the final months of the previous year. The BDI lost an additional 3.8% yesterday with no ship type escaping the general downward trend. Capesizes were down by 2.44%, while Panamaxes led the losses, by retreating by 4.59%. Similarly, Supramaxes were also on the downside, by 2.27% compared to Friday's session.
In a note, Clarkson Research Services said that the freight rate for a Capesize vessel has fallen a total of 22% in just two weeks, the biggest fall since 2009, when the shipping industry was faced with a global recession. One-year time charters for capesize vessels slid to $17,000 a day in the two weeks ended Jan. 13, against $21,875 in the prior period, said Clarkson.
Commenting on the Capesize market, the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS) said that "Capesize rates saw heavy losses for the second week, with weather-related disruption in Brazil and Australia adding to the market’s problems. The Capesize 4TC finished the week at $9,116, which takes it back beneath the Panamax 4TC and the Supramax 6TC. Australia’s ports have slowly reopened, while Vale has downplayed the impact of its declaring force majeure on the grounds that it represents just 1% of its output. However the combination of these issues, and the forthcoming Chinese New Year, suggests there is little to prompt an upward correction in rates. Monday saw another slide, with the 4TC losing $618 to $8,498. In the paper market, February and March were trading at $9,433 and $10,267 by Friday afternoon" said BRS.
Meanwhile in the Panamax market, the shipbroker mentioned that "last week marked the beginning of a strong drop in Panamax rates. What everyone expected finally happened and we saw the indices freefall every single day with no positive sign for owners. The 4TC lost $2,000, going from $12,020 per day to $10,075/day. In 1Q 2012 the same number of Panamaxes delivered in 2Q+3Q+4Q 2011 will in theory be delivered according to our last updates. On top of that, a relatively warm winter across Europe has impacted negatively coal demand and stocks in China are still at a high level as we head into Chinese New Year.
In the Atlantic, the TA index dropped to $10,731 from $13,341 the previous week, while the market was already below $9,000/daily. The outlook is still bearish as ballasters from the east keep hammering the Atlantic market. The transatlantic rate is now equal to the 4TC, instead of being at a 10%-15% premium as in normal market conditions. In the Pacific, it was the same story. Rates dived from $8,895/daily to $7,398/daily with the 1year TC rate basis delivery North China at around $11,000/daily. The market was very calm there before the
Chinese New Year. On a positive note, coal prices are losing some ground and might push China to move to imported coal. However looking at stockpiles, the discount should be significant" said BRS.
Finally, on the Supramax/Handy front, the shipbroker said that "all countries were back to work for this second week of the year and the market continued its way down… The BSI lost 12.6% to close the week with an average of the TC routes at $10,154. Prompt positions were available in all areas. The strongest drop was noticed out of the US Gulf where the route USG/Skaw-Passero lost 21.6%; a 57,000 dwt vessel was fixed at $18,000 aps USG redelivery Italy, whereas redelivery Far East was done in the mid $20,000s. It was the same situation on the Continent where a Supra was fixed at about $13,000 for scrap from ARAG to the East Med, while same was done at $16,000 the previous week. In the Pacific, the volume of orders is reducing with the approach of the Chinese New Year. The market has become sluggish with stems of iron ore from India becoming increasingly rare. The dollar appreciation against the rupee has also led to fewer Indian coal Imports. Supras from Indonesia to India have now dropped $1,000 in the last week, to reach the low $6,000s, while Supras from India to China are now getting about $8,000" concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Central Java Power - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
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