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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
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