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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
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