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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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- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
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