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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
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