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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
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