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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
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