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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, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
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