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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 nothing to compensate for the huge oversupply of vessels. As a result, the BDI (Baltic Dry Index), the industry’s benchmark has kept on falling, as has been the case throughout the month. Yesterday, it ended down by 2.85% to just 784 points and dangerously close to the lows of 2008, when the shipping market had plunged to a halt, as a result of the global financial crisis. All major indices were down yesterday once again, with Capesizes losing 0.99% to 1,497 points, while Panamaxes were hit hard, falling by 3.91% to just 909 points. Similarly, Supramaxes fell by 2.45%, while Handies were also down to just 444 points, down by another 2.2% on the day.
According to the latest weekly report from shipbroker Fearnleys, commenting on the Capesize market it said that “as expected it has been a quiet week with few fixtures and more ships drifting and at anchorage. For the west Australia/China trade, the big three have been absent, only a handful of fixtures around USD 7.60 7.75 range. Tubarao/Qingdao is more or less dead whilst there are talks about some really horrible fixtures for the backhaul trade. However the details are being kept private, which is not a big surprise. Owners are expecting more activity from after Chinese New Year, but time being one need to use the imagination in order to see the signs of this happening” said the shipbroker.
In a separate note, Shiptrade Services mentioned that “Capes had another terrible week since the lack of cargoes, over supply of tonnage and the bad weather conditions did not improve since last week. Also, Chinese holiday contributed even more to rates down fall and put every hope of improvement in halt. The average of the four T/C Routes decreased closing the week at USD 6,700 and the BDI fell down by 169 points. Fronthaul trips were done at USD 21,000 compared to the USD 28.500 last week. Charterers at Far East moved for period tonnage at USD 12,500 levels for 4/6 months and USD 13,000 for 11/13 months”.
On the Panamax front, Fearnleys said that “the market is falling further in both hemispheres for simple reasons - lack of cargoes and a growing list of open positions. With the Chinese celebrating the entry of Year-of-the-dragon and Singapore away most of the week, the market is suffering from low activity and lack of any fresh stimuli. In the Atlantic rates varies from still healthy 10k on T/C to far less on voyage. Fronthaul also sliding with rates reported at 19k+300 GBB for USG-China. In the Pacific the effect of the holidays and lack of cargoes is even more apparent. NOPAC rates at 7k+300 GBB hardly achievable any longer. Mixed expectations for the activity and a possible market upturn among the market players when the Holidays are over in the Far East. However, a coming grain season in ECSA and more mineral activity from Brazil may turn the tide suddenly” said Fearlneys.
Similarly, Shiptrade noted that “in the Atlantic Basin lack of cargoes in the Continent led the vessels ballast towards USG. In combination with the Chinese holidays which made things even harder as Chinese receivers were not there to conclude the deals. A few iron ore requirements fm USG and some Petcoke cargoes were not enough to replace the lack of requirements in the Continent hence physical market dropped heavily In the Pacific the market was extremely quiet as all the cargoes sold to China were fixed prior holiday and only a few nickel ore and coal orders ex SE Asia to India were fixable. The period rates in the Far East were around 8000 for 3/5 months” said Shiptrade.
Finally, on the Handy market, Fearnleys concluded that “the market took yet another dive this week after a dull start to 2012. The activity has decreased considerably with Chinese New Year upon us, and also holidays in Singapore. We do see some more activity mid week with new cargos entering the market, but the amount of open tonnage out numbers the available cargos. The Skaw/USG route is now trading at a tick below USD 4k, while the USG/Skaw is still fixing at a healthier USD 13k daily. The fronthaul candidates are fetching around USD 18,500. The Pacific market dives deep due to ongoing Chinese New Year holidays and fresh supply of tonnages and less cargoes. Indo- India fixed at around USD 6k dop south China and nickel ore cargoes also very less to support the market. Iron ore from India is dead and rates remain at USD 8k from WCI and USD 7k from ECI. RBCT rounds are fixed on APS basis at USD 10k + 300k BB. Red Sea fertiliser cargoes fixed at low 20s to India. Short period activity very less and rates around USD 7500” said Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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