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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
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