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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
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