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Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry bulk market is reliving those dreadful late 2008 days. The lack of cargo demand, combined with the huge oversupply problems has caused the market to crash by almost 60% during January. The market’s benchmark, the BDI (Baltic Dry Index) kept falling yesterday, to end the session down by another 2.65% to just 662 points.
The only positive factor that one could argue, is the relative stabilization of the Capesize market, which lost just 0.07% yesterday to end at 1,446 points, way above the rest of the field. Panamaxes kept tumbling, this time by 4.14% to just 694 points, while Handysizes, which have been on the red for a few months now, have reached just 396 points (Baltic Handysize Index), losing an additional 2.46% yesterday.
According to the latest weekly report from shipbroker Fearnleys, “the Capesize market continues to be horrible. Rates and activity have not improved even after the Chinese have returned to work after the Lunar New Year holidays. Thus there is little to say in terms freight rate development except that it is flat. There is however an increased interest from short period takers, indicating a sentiment, that this market cannot fall much further, and that the premium payable for short period can easily be recovered if the market rebounds” said Fearnleys.
In a separate note, up to the end of last week, shipbroker Shiptrade & Services mentioned that “the Far East national holidays, the lack of cargoes combined with over supply of tonnage and the cyclones that returned in West Australia resulted in a very slow week in the cape market. Specifically, the average of the four T/C Routes closed the week at USD 5,566, the lowest level of the last eleven months. In spite the fact that with Columbia coal market produced some cargoes, rates for the T/A round concluded at around USD 5,000 and many owners preferred to keep their vessels drifting or at anchorage. The fronthaul was low as well with Tubarao/Quingdao fixing at USD 19,10 levels. Pacific was very quiet due to the holidays with Far East round voyage to be fixed at USD 7,000. Period activity was minimal with rate for 1 year remaining the same as last week’s said Shiptrade.
On the Panamax front, Fearnleys noted that “with the BPI at 694 we are now below the depressing market we experienced at the beginning of 2009. This week we did however see more fresh cargoes, but the tonnage list is just growing day by day. The grain season is about to kick off in Brazil and we see cargoes ready from 2nd half Feb onwards. The activity is still limited and the deals being done are being fixed at very low levels even below operating costs. This has resulted in some owners dropping anchor to wait until they see reasonable levels again. The Tarvs are now being fixed below USD 5k and the fronthauls are fetching around 14-15k depending on delivery. In the Pacific basin the rounds are being fixed around USD 5k. A one-year deal was reported this week with the mv Global Bonanza, 74kdwt/built ´11, being done basis delivery Feast at USD 10k daily” said Fearnleys.
Commenting on the Handy market, the shipbroker said that it was “another week of falling rates. In the US Gulf tonnage were fighting for the few fresh cargoes entering the market. Vessels fixed for Skaw-Passero direction were paid tick below 11k/day, and Continent positions concluded USD 2500 and USD 14k for US Gulf and Far East, respectively. The Pacific market remains quiet in spite of holidays getting over and overall sentiment remains negative. Indo-India fixed at around USD 5k dop south China and nickel cargoes also very less to support the market. Nopac cargoes are also less in numbers and mostly fixed on APS basis. A bit quiet on iron ore from India 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 are around USD 8k” concluded Fearnleys.
In a separate note, Shiptrade mentioned that “ECSA continued its low cargo volume production with the TA round falling at USD 6,000 levels while Med and Continent kept on having many open vessels and very few firm cargoes. In spite the low levels owners preferred to keep their vessels in Atlantic instead of making the fronthaul trip.
Pacific was really slow and the Chinese and Indian holidays produced too many spot vessels and very low rates on the few orders that were fixed with the round voyage concluding at USD 4,000. Charterers persisted in searching for period tonnage but even more decreased levels of USD 7-8,000 were not appealing to owners who avoided committing their vessels said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- The University of Queensland
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
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