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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Minerals Council of Australia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- The University of Queensland
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
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