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