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