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