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