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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- The University of Queensland
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
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