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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
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