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Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the other shipping segments, with the exception of Handysizes, which kept falling. According to the industry’s benchmark, the Baltic Dry Index (BDI), the market was higher by 2.06% yesterday, reacing 1.884 points, with Capesizes stealing the “show”, as the relative BCI (Baltic Capesize Index) increasing by 3.7% to 3,223 points. Panamaxes were also higher by 0.85% to 1,784 points.
In its latest weekly report, Shiptrade Services commented on the Capesize market by saying that experienced a positive week across both basins. “Atlantic basin was tight for prompt tonnage and Charterers had to increase their levels. Rates for Transatlantic rounds concluded at USD 33.000per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 47.000per day. On the Tubarao/Qingdao trade there were not many prompt ballasters from the Pacific, and rates picked up at USD 25.25 pmt. In the Pacific basin, the iron ore majors came into the market and covered some of the prompt tonnage which resulted in rates improvement. At weeks end, rates for the Australia/China trade concluded at USD 11.50pmt, while on TCT basis, rates for Pacific round concluded at USD 22.000 per day basis N.China delivery”.
Similarly, on the Panamax front it noted that “rates in the Atlantic softened just a bit, but rates in the Pacific are under pressure. In the Atlantic basin we saw a clear out on the prompt vessels, with rates remaining more or less at the same levels since last week, or soften just a touch. Rates for Transatlantic round concluded at USD 16-16.500, while rates for Fronthaul trips concluded at USD 24-25.500per day. Rates for trips ex USG to F.East concluded at USD 25.500+550.000 BB basis APS USG. In the Pacific basin activity was not high as there were not many cargoes ex Indonesia or Australia and tonnage was building up. At week’s closing, rates for S.China/S.E.Asia positions interested for Indonesia round, concluded at USD 11.500 – 12.000per day. For positions at N.China/Japan range interested for trips ex NOPAC there were just a few parcels and fixtures reported at rates of USD 10-11.000per day” mentioned Shiptrade Services.
Meanwhile, in a separate report, shipbroker Intermodal warned that despite the high number of ships sold for demolition this year, oversupply remains a headache for most ship owners and especially for those who own or operate Capesizes. “This size has suffered extensively since the beginning of the summer and despite the recent recovery recorded since early September, it is forecast to face serious problems in the coming months and years as well. Fleet growth is forecast to increase by as much as 40% within next three years, meaning that there will be no shortage of tonnage in the market for the next couple of years. At the same time iron ore demand is predicted to stagnate to low single digit growth levels over the same time period” said Intermodal’s Panos Makrinos in his analysis.
He went on to add that “the world’s dry bulk shipping industry experienced a extraordinary over supply of dry bulk vessels which resulted in the almost complete collapse of freight rates for Capes and VLOCs. According to Mr. David Smith, director assistant at PwC strategy, ship-owners were wrongfully placing their hope on a Chinese demand for iron ore that would continue to grow at the same pace as it had done over the past decade. Although there is still an amazing infrastructure investment growth rate in China, it will only partly cover and counterbalance the oversupply of capesize tonnage in the near future.
Despite all these pessimistic views for this size vessel, we have seen considerable activity in the secondhand market in comparison to all other dry bulk size segments this year. Up until now we have seen a total of 41 Capes having exchanged hands. What’s more notable is that close to 40% of these were done during the summer period (July-September) were the freight market was scrapping close to bottom. Secondhand prices have not followed a similar decline to that seen in the freight market this year, with price levels on average dropping by only 20% since January. With all that in mind, it seems that there is now only a few number of buyers out there which are holding a positive investment outlook and ready to act, while at the same time scrap prices have also started to soften. Considering all of the above, it is likely that we will see a number of owners who are pressured by high debt, selling their capesize vessels and in effect exiting this size segment before the market is burdened with further new deliveries. Of course, the recent recovery in Capesize rates has been substantial these last three months, but this cannot be taken as something permanent since the continued overcapacity, will most probably push for another collapse within next year if not earlier” concluded Intermodal in its analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
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