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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, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Australian Coal Association
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
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