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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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- Bhatia International Limited - India
- Tata Chemicals Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
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