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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- VISA Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Planning Commission, India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
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