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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
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