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