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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PTC India Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
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