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