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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 $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
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