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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
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