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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Petron Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
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