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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
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