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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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Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
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