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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Planning Commission, India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
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