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Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
 In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry Index) jump to 1,619 points, or a mssive 5.34% on the day. As a result, the index which covers major commodities routes managed to post a significant gain during the second half of August, ending a more than two-month overall slump to almost 1,200 points.
This latest rise was attributed to a surge in interest for the larger Capesize vessels, while all other ship types were stuck in the red yesterday. Capesizes were higher by an impressive 11.36% on the day, with the relative Baltic Capesize Index inching forward to 2,598 points. On the downside, Panamaxes were down by 0.49% on the day, with the BPI (Baltic Panamax Index) ending the day down to 1,628 points.
Referring on the Capesize market, the latest weekly report from shipbroker Fearnley’s said that “the sun is shining again, after a short dip from interesting levels. Increased spot cargo volumes across the board resulting in a dramatic 15% improvement in average earnings in one day, bringing market back to levels not seen since early winter. All routes expected to rise further, as strong support is also seen from derivatives. Period activity about to catch up, exemplified by 176000 dwt/blt2010 delivering China mid Sept for 11-13 months at usd 14k, also 171000 dwt/blt 2003 fetching usd 14k with China delivery early September” said Fearnley’s.
On the Panamax front it said that “from the market upswing last week, the Panamax market took a breather with holidays both Monday and Tuesday this week. Especially the Pacific market rallied last week with a good number of Indonesian coal cargoes. It seemed like many charterers entered the market at the same time to cover before their holidays this week. The softening experienced this week is not dramatic, but it is slowly sliding downwards in both hemispheres. Some good rates are still achieved with TA´s being fixed in region of usd 14-15k and the fronthauls getting fixed in the low 20´s. In the Pacific the rounds are now being fixed at around USD 11-11,500 daily. Some activity in the short period market is in the 13k range, and there are takers for longer periods like 1 or 2 years” concluded the shipbroker.
Accroding to a recent report from BIMCO’s shipping analyst Peter Sand, the active dry bulk fleet has grown by 7.4% so far in 2011, caused by delivery of 52.5 million DWT, offset by as much as 14.8 million DWT being demolished. As the new building delivery pace stays strong with demolition trying to keep up the fleet is estimated to grow a tad slower at 12.9%. The inflow of new orders during first half of 2011 is down 67% as compared to same period last year. This has influenced the orderbook to fleet ratio positively alongside the massive deliveries. It currently stands at 42% – down from 79% – but still a very high overall figure with 241 million DWT in the pipeline. 79% was recorded in October 2008. “There is still extensive slippage in the orderbook going forward.
BIMCO estimates that one out of every three vessels is postponed for a variety of reasons. The demolition pace continues to stay strong – never before has so much tonnage been demolished. The average size of a vessel going for demolition is 72,647 DWT, meaning that the big ships are now leaving were scrapping smaller ships with an average size of just 38,640 DWT. In 2011, 49% of the demolishing vessels are the large Panamax and Capesize bulk carriers as compared to 15% in 2009” said Sand.
BIMCO predicts that another 450 newbuild dry bulk vessels with an average size of 84,000 DWT will enter the fleet during the remaining part of the year. While some 76 vessels with an average size of 72,500 DWT will be demolished. Commenting on the market’s outlook, BIMCO’s senior shipping analyst said that “on the basis of that supply outlook in a combination with a slower than previously expected demand outlook, BIMCO expects that the market balance will continue to be strongly in favour of charterers, with low freight rates across the board. As the global economy is still walking in the shadows of the financial crisis, demand growth remains on a short leash. Together with the massive inflow of new tonnage, the freight market will spoil charterers for choice for at least another couple of years.
BIMCO will focus specially on the opportunities provided by the demolition market in a soon to be released analysis. You have to be able to endure lots of pain if you are amongst those who are about taking delivery of a newbuild Capesize vessel. Regardless of whether you paid USD 105 million for her back in July 2008 or USD 55 million last January, you have the option of chartering her out for half a year at USD 12,500 per day for 5 years at USD 16,000 per day or to try your luck on the spot market. Either way, you’re facing a poor return on your investment in the coming years unless cargo volumes increase dramatically. 213 Capes entered the fleet in 2010, another 250 is going to be added this year.BIMCO expects to see a depressed freight market in the coming months. Summer has been slow, so freight rates are likely to bottom out now but only a little upside is visible for owners. The Capesize Time Charter Average is likely to stay around USD 12,000-16,000 per day, Panamax and Supramax rates are likely to stay firm in the USD 13,000-17,000 per day. Handysize rates are expected in the USD 9,000-13,000 per day interval” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- The University of Queensland
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
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