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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
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