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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
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