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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
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