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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- The University of Queensland
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
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