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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
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