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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- PTC India Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
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