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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Planning Commission, India
- The University of Queensland
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
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