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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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Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
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