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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industry's benchmark, the Baltic Dry Index (BDI) managing to post its first increase in weeks. The BDI ended yesterday's session at 648 points, still near record lows, but at least 0.15% higher than Friday's closing. The market's rebound was primarily fuelled by the Panamax segment, with the relative index gaining 4.76% on the day and increasing to 726 points, which still is incredibly low. Capesizes were able to post mild gains of 0.14% to 1,438 points, but smaller sizes still suffered. Handysizes remain in deadlock, losing an additional 1.83% to just 375 points, while Supramaxes also suffer, ending yesterday’s session down by 1.32% to 600 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “it was another week of heavy losses in all dry bulk segments, but there were some signs of a reversal in the Cape market. The BDI reached 647 points, illustrating a decline of about 11% w-o-w. The BCI lost just 2% to 1,436 while the BPI lost a remarkable 15% to finish on Friday at 693. The BSI and the BHSI declined 12.5% and 10% w-o-w, reaching 608 and 382 at the end of this week respectively. The BCI showed a slight uptick on Monday, however, the first for a month, while the BPI also rose 33 points” said BRS.
Commenting on the Capesize sector, the Paris-based shipbroker said that “there were signs last week rates might finally have bottomed for the Capes, with the decline in rates slowing, and Tubarao -Qingdao showing even a small 1% uptick to $19.45. Hedland-Qingdao softened slightly however, while in the Atlantic there was very little activity on which to gauge rates. The end of the Chinese holidays did not seem to result in a sudden increase in activity, however there was talk of more Chinese buying next week. Meanwhile there were reports of a period deal for 5-7 months at $12,000 per day for a 160,000 dwt vessel. Overall the Capesize 4TC ended the week at $5,251, 6% down on the week before but only equivalent to a loss of $315. Meanwhile Monday saw the BCI rise 2 points, halting 30 days of consecutive declines” said BRS.
Meanwhile, on the Panamax front, “further declines were recorded in both Atlantic and Pacific basins last week. Limited fresh business was reported in what continued to be a market characterized by underlying bearish sentiment. Demand fundamentals in Europe remain muted, with coal demand being subdued by a relatively mild winter period thus far. The macro-economic outlook in the EU also appears downbeat, with little to suggest any imminent upturn. The 1A index declined a further $1049, settling at $4619 on 03/02/2012 (down from $15,500 on 01/01/2012). Front haul rates fared no better, with 2A index falling $1316, from $15,740 to $14,424. The limited volume of fresh business, along with plentiful supply of ballasters arriving from the East continued to weigh down on rates. In the Pacific, stockpiles of both iron ore and coal remained high at major Chinese ports, and with little in the way of fresh business post-Lunar New Year, rates also fell away (down $430 w-o-w). The one positive note at the end of the week however was a small rise in the 3A index, perhaps signifying a more balanced market heading into the new week” mentioned the shipbroker’s report.
Finally, on the Supramax/Handy markets, “they were still feeling the holiday fever last week even though the Far Easterners were back in their offices. The Atlantic also maintained a downward trend, while there was still no improvement in the numbers witnessed in the Far East. This was obviously expressed by a $1,000 decline on the average Supra TC routes last week and about -$500 on the average Handy routes. Supras went for barely $10,000 per day pro for US Gulf-East Med trips and about $6,000 per day pro for US Gulf–North American round voyages. Continent–E Med voyages followed with lower levels of about $8,500 per day pro due to the lack of cargoes in the Continent. ECSA managed with better figures than the US Gulf as we noticed fixtures at about $12,000 daily for trips to West Africa. The Far East maintained low rates as India–China trips went at about $5,500.
The Handy and Handymax were not left out, even though the Handies saw better rates of about $12,000 for ECSA-N Africa trips. Handymax saw poor rates of about $8,000 aps in South Africa with long ballasts from Singapore or India. India–China maintained lower levels of about $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Aditya Birla Group - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
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