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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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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- PTC India Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
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