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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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Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- AsiaOL BioFuels Corp., Philippines
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- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
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- Power Finance Corporation Ltd., India
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- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
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- Petron Corporation, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bulk Trading Sa - Switzerland
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- Australian Commodity Traders Exchange
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- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
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- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
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- Antam Resourcindo - Indonesia
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- Maheswari Brothers Coal Limited - India
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- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
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- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Finance - Indonesia
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- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Ministry of Mines - Canada
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
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- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
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- ICICI Bank Limited - India
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- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
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- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
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- Aboitiz Power Corporation - Philippines
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- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
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- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
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- Indian Oil Corporation Limited
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- MS Steel International - UAE
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- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
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