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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- PTC India Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Posco Energy - South Korea
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
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