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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
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