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