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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
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