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Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of the new year, since it ended on a downward spiral back in late December, ahead of the Christmas Holidays. In any case, 2011 proved to be an interesting, yet quite challenging year for dry bulk owners, who will be turning their heads towards the new year with much anticipation, as to what effect will China manage to exert on demand of dry bulk goods.
According to a recent BIMCO analysis on the dry bulk market, “despite the supply-side pressure, we put our money on black and forecast that Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus we expect freight rates to stay sensitive to iron ore price developments but above USD 20,000 per day. A key observation from BIMCO is that we believe mining companies will prefer to sell this important steel production ingredient in larger volumes rather than higher prices, as long as China appears ready to purchase” said the analysis.
It went on to mention that “in order to deliver the support needed to keep rates elevated, Chinese iron ore imports will need a level of 61.2 million tonnes in both November and December, which in turn will bring the annual total import growth to +10% y-o-y. The supporting argument that must trump the negative impact from high stockpiles and slower steel production is the pricing game. China has built a firm reputation for playing the commodity markets well.
Looking beyond the Capesize fleet and into 2012, the smaller-in-size segments are going to experience a healthy slowdown in new deliveries. Right now, deliveries are estimated at 80 million DWT – equal to a fleet growth of 11.4%; a number that is likely to get slightly inflated by vessels that were set for December delivery but end up being January deliveries instead. A potential upside may also come from Russia, if they decide to impose a ban on grain exports to stop excessive outflow of the foodstuff. This will lead to longer hauls, as African and Middle Eastern importers will have to look for alternative sources potentially further away. Should they go to the most likely exporters, Australia or Argentina, the impact on the freight markets will be most significant.
To sum up, BIMCO holds the view that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply will eventually hit back. Meanwhile, we reiterate our forecast on the Panamax and Supramax freight rates that are likely to stay put in the USD 13,000-17,000 per day interval. Handysize rates are expected to gain traction and return to the USD 9,000-13,000 per day interval” concluded BIMCO’s chief shipping analyst, Peter Sand.
Meanwhile, in separate report on the course of second hand sales and newbuilding orders during the final week of the year, Lion Shipbrokers said that “on the dry-bulk front, an even quieter week with very few sales to report; Vintage handysize bulker HUI SHENG (37K BLT 1984/BRAZIL TRADING AS GEARLESS) has changed hands within China for $4.8 mill while gearless ice class 1A box single-decker LONE BRES (4.7K BLT 2000/HOLLAND) went to Norwegian Buyers for $2.85 mill basis annual & intermediate surveys freshly passed. In the Tanker segment, in addition to last week's report, Greek controlled suezmax duo EQUATOR & NAVIGATOR (150K BLT 2006 UNIVERSAL/JAPAN) have been committed en bloc for $44 mill each basis delivery January 2012 to clients of Principal Maritime of U.S.A. Two ex-Dr Peters controlled aframax/LR2 tankers were sold at auction. DS PERFORMER & DS POWER (109K BLT 1999/2000 DALIAN/CHINA) were sold for $15 mill each in auctions in Aruba & Rotterdam respectively, hearing both were bought by the Mortgagee bank, while others suggest by clients of Clearwater. Stainless steel chemical tanker ORIENTAL WISTERIA (12.5K BLT 2001/JAPAN) is reported committed to Chinese Buyers for $10.7 million” said Lion.
On the demolition market, it mentioned that “the news that Bangladesh will most probably re-open around 12th to 14th of January have put smiles upon Shipowners' faces, hoping that competition will push demo-rates above $500 levels. Most notable sale this week is container vessel BUXMASTER (LDT 6.837T, 23K BLT 1986/GERMANY) committed for the bullish price of $508 to India without having any extra features like extra bunkers/propeller or tailshaft to justify this level. The subcontinent's sentiment is positive and prices are ranging at $450 for Bulkers, $475 for tankers & $475 for Container/Tweendeckers. In other major demo-markets, China has improved paying $430 per lt, while Turkey is stable paying $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bhatia International Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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