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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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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Lanco Infratech Ltd - India
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