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