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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Economic Council, Georgia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
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