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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Central Electricity Authority - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
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