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