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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
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