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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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Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- The University of Queensland
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
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