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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
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