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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
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