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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to plunge to more than one-month lows, ending the session down to 1,859 points, or by 2.77%.
All shipping segments were down yesterday, with the Capesize market sustaining the biggest losses by 3.23%. The Panamax market was down by 1.20%.
According to the latest report from Shiptrade Services, after the previous weeks’ steady increase, the market turned downwards with Capesizes suffering the most. Commenting on the Capesize market, it mentioned that “the week began positively, but lack of cargoes in the Pacific forced Owners to lower their levels, or start ballasting towards the Atlantic.
Atlantic basin was active, with good cargo volume mostly coming ex Brazil.
Rates for Transatlantic rounds concluded at USD 34.000 per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 49.000 per day. On the Tubarao/Qingdao trade rates were fluctuating between USD 30.00 – 30.50 pmt but week’s closing rates softened as an effect of the ballasters from the Pacific.
Pacific basin was quiet due to the absence of the iron ore majors but Owners could see a few alternative cargoes ex S.Africa / W.Canada. Rates softened, and at weeks closing, rates for the Australia/China trade concluded at USD 11.00pmt, while on TCT basis, rates for Pacific round concluded at USD 25.000 per day basis N.China delivery” said Shiptrade.
In a separate report Fearnley’s said that “after a relatively long period with improving rates, the Cape market experiences a correction mid last week. Rates kept dropping throughout this week, with West Australia/China being done just bellow usd 10 pmt. Tubarao/Qingdao was done last week around usd 32 pmt, the lowest done this week is just below usd 25 pmt. The drop in spot rates has resulted in less period activity with chrtrs aiming around mid teens, a level perceived to be of non interest to the owners. The rest of the week is remained to be quiet with Eisbein going on in Germany” said the report.
On the Panamax front, the Nordic-based shipbroker it said “fair activity with mineral requirements in the North Atlantic from USEC and Baltic catering for healthy levels as market is tight for prompt loaders. Fixing levels in the 20´s for Baltic rounds, upper teens for TA rounds. Less activity and weakness in the USG and ECSA from an increasing number of
ballasters appears from the Med and Far East. Levels for trip out hovering in the 26 + 600 range basis APS. In the Far East activity is low, tonnage lists grow, and rates are under downward pressure. NOPAC rounds 12500, period activity scant. The general sentiment is losing confidence from a slow and descending forward market” said Fearnley’s.
Shiptrade Services mentioned that “Panamax rates dropped slightly since the cargo volume was not enough to cover the available tonnage. In the Atlantic basin, the USG market remained the driving force, especially for the Fronthaul cargoes with fixtures at USD 26.500+650.000 GBB basis APS USG. Rates for Transatlantic round remained at USD 17.500 - 18.000 per day. In the Pacific basin activity remained flat with many Charterers waiting for rates to drop further. At week’s closing, rates for S.China/S.E.Asia positions interested for
Indonesia round, concluded at USD 14.000 – 14.500 per day. Positions at N.china/Japan range interested for trips ex NOPAC could get USD 13-14.500 per day” said Shiptrade.
On the Supramax trades the Piraeus-based shipbroker mentioned that “the market followed the same trend, with less cargoes and rates dropping. In the Atlantic basin, we could notice a decrease in the number of cargoes, but some areas were more attractive. In the USG region rates for trip to continent/East Mediterranean remained steady close to USD 30.000 per day, while for trips to F.East fixtures reported at USD 38.000 per day.
On the Mediterranean/Bl.Sea market, rates for trips to F.East held around USD 24 - 25.000per day, while rates for trips to USG were between USD 9 -10.000per day. On the ECSA region, vessels concluded at rates close to USD 18-19.000per day + 400.000 ballast bonus basis APS ECSA delivery for trips to F.East, and for trips to Continent/Med rates concluded at USD 16-17.000per day. In the pacific basin, rates dropped, as there were not many cargoes from Indonesia, and many Charterers preferred not to move and see how the market will proceed.
Some fixtures concluded to direction India but levels were fluctuating between USD 8.000 – 11.000per day. On the other hand, for the N.China positions, a few cargoes ex NOPAC remained an attractive solution at rates of USD 12.000per day (M/V Prabhu Jivesh 50956 / 02’)” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 June 24
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- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
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