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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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
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