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