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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
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