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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
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