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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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- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
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