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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, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
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