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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
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 ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
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