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