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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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Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- The University of Queensland
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
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