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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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