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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
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