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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Latin American Coal - Colombia
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- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
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- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
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- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
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- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
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- Indian Oil Corporation Limited
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- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
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- Planning Commission, India
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- Interocean Group of Companies - India
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- PTC India Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
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- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
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- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
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- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
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- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
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- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
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- Australian Coal Association
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- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
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- Bulk Trading Sa - Switzerland
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- SN Aboitiz Power Inc, Philippines
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- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
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- Videocon Industries ltd - India
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- Bhushan Steel Limited - India
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- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
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- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
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- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
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- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
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- Minerals Council of Australia
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- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
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- White Energy Company Limited
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- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
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- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
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- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
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- Independent Power Producers Association of India
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- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
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- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
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- Indonesian Coal Mining Association
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- SMC Global Power, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
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