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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
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- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
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- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
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