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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- The University of Queensland
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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