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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
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