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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
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