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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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- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Economic Council, Georgia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
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