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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Parliament of New Zealand
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