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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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- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
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