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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new year, in order to proceed with new dry bulk orders. As a result, the industry’s benchmark, the BDI (Baltic Dry Index) fell once again on Wednesday to 1,856 points, down by 1.17% on the day, with Panamaxes erasing the previous gains and losing 2.16% on the day. The Baltic Panamax Index now stands at 1,720 points. Similarly, demand has thinned out for Capesizes, with the respective index falling by 1.09% yesterday to 3,526 points. Supramaxes were unchanged, while the demise of the smaller Handysizes wasn’t about to end yesterday.
Commenting on the Panamax market, shipbroker Fearnleys said in its latest weekly report that “limited fresh business appearing in both hemispheres as Christmas is getting closer, causing the market to slide slowly. As the majority of December cargoes have been cleared out and the list of open positions is growing, expectations for the coming days and weeks are not over enthusiastic. 15k for TA, 25k for trip out, and 11k for Pacific rounds represents market levels this week. 2011 seems to end where it started, with a BPI on about 14000 and on a downward trend. Fluctuating from lowest 10372 Feb 2nd to highest 17115 March 11th the year is about to close with an average BPI also at 14000. With a descending forward curve passing 11500 for 2012 it may be highly relevant to wish all market participants a Merry Christmas and a Happy New Year!” said Fearnleys.
On a similar note, Piraeus-based shipbroker Shiptrade Services mentioned that in the Atlantic basin “we saw fresh cargoes in the market, and few vessels were fixed for short period, a few transatlantic round with coal via USEC, and in the Mediterranean a few round trips with grains ex Bl.Sea. At week’s end, rates for Transatlantic round concluded at USD 15.900 per day, while on the Fronthaul, rates concluded at USD 26.000per day, or close to USD 26.000 + 600.000 ballast bonus basis APS USG. In the Pacific basin Owners were also unwilling to drop their rates as some fresh cargoes ex NOPAC or Australia emerged into the market. Many fixtures were reported at levels of USD 10.000 – 11.500 per day basis N.China delivery for a trip via NOPAC, while rates for trip ex Australia concluded close to USD 12.000 per day” said Shiptrade.
Referring to the Capesize market, Shiptrade stated that Atlantic basin is getting quiet, but Pacific remained active. Rates in the Atlantic started to ease since there was not much of activity. Rates for trips to F.East concluded at USD 55.000 per day, while rates for Transatlantic round concluded close to USD 32.000 per day. Fronthaul market was also quiet but some fixtures concluded around USD 29.50 - 30.50pmt basis Tubarao/ Qingdao.
Pacific basin seemed to be a bit active with Iron ore majors covering about 10 vessels. At week’s end, rates for the Dampier/Qingdao trade concluded around USD12.00 pmt. On TCT basis, rates for Pacific round concluded at USD 31.500 per day basis N.China delivery.
Panamax: Market moved upwards across both basins, as Owners seemed reluctant to reduce their levels and held their position” said Shiptrade.
Meanwhile, Fearnleys mentioned that the Cape market has remained strong in the near term, but sharply dropping off for slightly forward dates. “Spot Pacific vessels have commanded high premiums with an extreme high of USD 17.20 being paid, for West Australia to China, at the end of last week for very tight dates. End December cancelling has demanded USD 14.50, while second half January is being fixed at a much lower USD 11.25. January front haul positions are very tight with few or no ballaster, and recent rumours indicate rates for Brazil/China being paid well over USD 30.00 (perhaps even USD 32.00). The one-year period market has now been done at a new high of USD 18500. Although the curve has moved, the sentiment is still pessimistic and the forward market is discounted heavily” said the shipbroker in its report.
On the Supramax front, Shiptrade said that “rates remained steady accoss both basins. In the Atlantic basin, still USG region still is the best place to be as rates for trip to continent/East Mediterranean remained at USD mid 20’s per day, while for trips to F.East fixtures reported at USD low/mid 30’s per day. Ex Continent, rates for trips to East Mediterranean/ Bl.Sea concluded around USD 18.000 per day. On the Fronthaul trade, rates for trips ex Continent concluded at USD low/mid 20’s per day, while trips ex Bl.Sea via G.O.A concluded at USD mid 20’s per day even though there were not so many cargoes available. Pacific basin saw rates stabilising and some fixtures reported at very good rates, since both Charterers and Owners were looking to cover their vessels/cargoes prior Christmas. Positions in S.China/S.E.Asia interested for Indonesian coal to China were fixed at rates around USD 6-7.000per day. On the other hand, for the N.China positions, there were a few cargoes ex NOPAC, and one or two fixtures reported at USD 7.000per day + 400.000 ballast bonus basis APS” concluded Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
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