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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, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
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