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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, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
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