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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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