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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Petron Corporation, Philippines
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