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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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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
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