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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- PTC India Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
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