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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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- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
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- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
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- The Treasury - Australian Government
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
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