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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to plunge to more than one-month lows, ending the session down to 1,859 points, or by 2.77%.
All shipping segments were down yesterday, with the Capesize market sustaining the biggest losses by 3.23%. The Panamax market was down by 1.20%.
According to the latest report from Shiptrade Services, after the previous weeks’ steady increase, the market turned downwards with Capesizes suffering the most. Commenting on the Capesize market, it mentioned that “the week began positively, but lack of cargoes in the Pacific forced Owners to lower their levels, or start ballasting towards the Atlantic.
Atlantic basin was active, with good cargo volume mostly coming ex Brazil.
Rates for Transatlantic rounds concluded at USD 34.000 per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 49.000 per day. On the Tubarao/Qingdao trade rates were fluctuating between USD 30.00 – 30.50 pmt but week’s closing rates softened as an effect of the ballasters from the Pacific.
Pacific basin was quiet due to the absence of the iron ore majors but Owners could see a few alternative cargoes ex S.Africa / W.Canada. Rates softened, and at weeks closing, rates for the Australia/China trade concluded at USD 11.00pmt, while on TCT basis, rates for Pacific round concluded at USD 25.000 per day basis N.China delivery” said Shiptrade.
In a separate report Fearnley’s said that “after a relatively long period with improving rates, the Cape market experiences a correction mid last week. Rates kept dropping throughout this week, with West Australia/China being done just bellow usd 10 pmt. Tubarao/Qingdao was done last week around usd 32 pmt, the lowest done this week is just below usd 25 pmt. The drop in spot rates has resulted in less period activity with chrtrs aiming around mid teens, a level perceived to be of non interest to the owners. The rest of the week is remained to be quiet with Eisbein going on in Germany” said the report.
On the Panamax front, the Nordic-based shipbroker it said “fair activity with mineral requirements in the North Atlantic from USEC and Baltic catering for healthy levels as market is tight for prompt loaders. Fixing levels in the 20´s for Baltic rounds, upper teens for TA rounds. Less activity and weakness in the USG and ECSA from an increasing number of
ballasters appears from the Med and Far East. Levels for trip out hovering in the 26 + 600 range basis APS. In the Far East activity is low, tonnage lists grow, and rates are under downward pressure. NOPAC rounds 12500, period activity scant. The general sentiment is losing confidence from a slow and descending forward market” said Fearnley’s.
Shiptrade Services mentioned that “Panamax rates dropped slightly since the cargo volume was not enough to cover the available tonnage. In the Atlantic basin, the USG market remained the driving force, especially for the Fronthaul cargoes with fixtures at USD 26.500+650.000 GBB basis APS USG. Rates for Transatlantic round remained at USD 17.500 - 18.000 per day. In the Pacific basin activity remained flat with many Charterers waiting for rates to drop further. At week’s closing, rates for S.China/S.E.Asia positions interested for
Indonesia round, concluded at USD 14.000 – 14.500 per day. Positions at N.china/Japan range interested for trips ex NOPAC could get USD 13-14.500 per day” said Shiptrade.
On the Supramax trades the Piraeus-based shipbroker mentioned that “the market followed the same trend, with less cargoes and rates dropping. In the Atlantic basin, we could notice a decrease in the number of cargoes, but some areas were more attractive. In the USG region rates for trip to continent/East Mediterranean remained steady close to USD 30.000 per day, while for trips to F.East fixtures reported at USD 38.000 per day.
On the Mediterranean/Bl.Sea market, rates for trips to F.East held around USD 24 - 25.000per day, while rates for trips to USG were between USD 9 -10.000per day. On the ECSA region, vessels concluded at rates close to USD 18-19.000per day + 400.000 ballast bonus basis APS ECSA delivery for trips to F.East, and for trips to Continent/Med rates concluded at USD 16-17.000per day. In the pacific basin, rates dropped, as there were not many cargoes from Indonesia, and many Charterers preferred not to move and see how the market will proceed.
Some fixtures concluded to direction India but levels were fluctuating between USD 8.000 – 11.000per day. On the other hand, for the N.China positions, a few cargoes ex NOPAC remained an attractive solution at rates of USD 12.000per day (M/V Prabhu Jivesh 50956 / 02’)” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
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