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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- The University of Queensland
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
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