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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Parliament of New Zealand
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
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