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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
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