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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
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