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