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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Central Java Power - Indonesia
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