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Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lower prices. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) was up by 1.78% to 1,882 points. Capesizes were once again the strongest performers, with the relative Baltic Capesize Index (BCI) rising by 3.64% yesterday, to reach 3,529 points. Panamaxes also gained 0.36% to increase to 1,693 points. By contrast though, the smaller ship types still seem to suffer, with Handysizes falling once again, this time by almost 1% on the day, with the relative index now at just 606 points. Similarly, Supramaxes shed an additional 2.35% to end the session at 1,248 points.
In a report this week, Intermodal’s George Bassakos said that it has definitely been a bumpy road for shipping this year. The devastating floods in Australia and the lethal tsunami in Japan earlier in the year, were the worst omen but reality proved totally different. Not for all though.... Capes rebounded strongly with fronthaul rates reaching or surpassing the USD 50,000/pd mark (rates not seen again after the party of 2007/2008). Smaller sizes didn’t exactly share the same euphoria but managed to perform relatively well helping the BDI to score a near 80pct increase from February's lows (bit over 1000points) to current highs over 1800 points said Mr. Bassakos.
Raising the question of whether it will be V for Victory… or W for double dip, he mentioned that «it that the market itself reacted spontaneously to overcapacity fears and managed to auto-adjust with increased scrapping (almost 70 capes have been scrapped so far this year), lower ordering and postponed deliveries - for how long though? The demand side of the equation stood particularly well outperforming supply so far, but the headlines from Europe and the United States are not that encouraging for the years to come he said.
Regarding demolition activity during the past week, shipbroker Golden Destiny said in a report that activity remained at low levels again this week with 9 vessels reported to have been headed to the scrap yards of total deadweight of as low as 297,012 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 10% week-on-week decrease and regarding the total deadweight sent for scrap there has been a 21 % decrease. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker sector again by Pakistan for a tanker of 135,915 dwt “FRONT BETA” with 23,563/ldt at $505/ldt. While Bangladesh still remains close and the future of this market will most likely be decided from the next year, India attracted 44% while China and Pakistan followed. At a similar week in 2010, demolition activity was at even lower levels, in terms of the reported number of transactions, with 4 vessels had been reported for scrap of total deadweight 65,716 tons” said the Piraeus-based shipbroker.
In turn, Intermodal said that despite the worsening conditions and considerably poor sentiment circulating the demolition market, it seems as though there was a very slight upswing in offered levels coming from Indian breakers. This seems to have only been in order to secure some high profile units from Pakistani breakers and take the lead in the market, as overall price levels look to be very week and could possibly drop further in the coming days as pressure continues to mount from the poor exchange levels, dropping commodity prices and uncertainty over the Bangladesh market. With respect to the final of these it now looks as though the date for the court hearing has been scheduled for the 14th December while the way things are going it might be further delayed and rescheduled for the new year. Offered Prices were overall stable this week, with wet tonnages holding at about 400-490$/ldt and dry units seeing levels of around 380-460$/ldt said the shipbroker.
In terms of newbuilding activity, Intermodal mentioned that «things are still holding fairly subdued while as we get closer to the holiday season we will likely see the number of enquiries drop further. Despite the heavy marketing pushed by Chinese shipbuilders on the new “eco” designs, we have not yet seen a surge in demand and it seems as though many yards will be closing the year without having reached the initial order targets for 2011 and as many have still a considerable amount of open slots for 2013 and beyond, it will be no surprise if their marketing efforts intensify within 2012. With regard to reported orders this week, Greece’s Polembros seems to be keen on exploiting the low asset values and newbuilding prices while likely holding a firm outlook on the prospects of the Capesize and VLOC market after its recent upward rally, having exercised his two options for newcastlemax (206,000dwt) bulkers this week at China’s Shanghai Waigaoqiao shipyard it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- The Treasury - Australian Government
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
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