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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
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