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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Minerals Council of Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
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