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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
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