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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
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