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