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