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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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