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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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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
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