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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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- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
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