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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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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- London Commodity Brokers - England
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
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