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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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