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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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