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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Australian Coal Association
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
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