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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- ASAPP Information Group - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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