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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
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