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