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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Economic Council, Georgia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
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