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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
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