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