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