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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
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