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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, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
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