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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Australian Coal Association
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
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