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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
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