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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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