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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
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