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