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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Planning Commission, India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
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