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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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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$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- The University of Queensland
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
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