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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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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Sree Jayajothi Cements Limited - India
- Planning Commission, India
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- Edison Trading Spa - Italy
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- White Energy Company Limited
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- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
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- Bukit Baiduri Energy - Indonesia
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- India Bulls Power Limited - India
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- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
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- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
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- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
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