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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
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