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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for cargoes, which haven't been offset that much by the record pace of ship demolition activity. As a result, the industry's benchmark has been hovering around subdued levels for some time now. Yesterday, the BDI (Baltic Dry Index) was up by 7 points to 1073, as a result of a rebound in Panamax activity, which together with the rise of the Supramax segment, were able to negate the rapid fall of the Capesize market.
Commenting on the Capesize segment, the latest weekly report from shipbroker Fearnleys noted that "with last 5 trading days showing only marginal fluctuations in levels concluded despite increased volumes, sentiment again turning nervous as improved activity fails to lift spot. Far East appears the most vulnerable, with rates for the WAust/China trade falling 10% and general Pacific rounds almost 15% w-o-w. Atlantic remains the bright spot in comparison – but with more speculation of massive volumes to be moved from Brazil during December than actual fixing, a steady flow of ballasters could soon change this picture. Support from paper levels combined with owners seeking predictable income for 2013 have allowed for limited period activity - representative fixtures include 175k dwt/built 2011 done for 10-14 months with delivery China mid Dec at USD 11250, 175k dwt/built 2010 delivering China prompt for 11-17 months at USD 11350, and 180k dwt/built 2011 delivery China prompt for 11-18 months at USD 11250" said the shipbroker.
On the Panamax front, Fearnleys added that "the last week has been strong for the Panamaxes both in Atlantic and Pacific. A sudden shortage of ships for early positions in Atlantic have driven transatlantic rounds up to around USD 8k, much thanks to coal cargoes from US and also some more grain cargoes from South America. Fronthaul on the other hand is not quite as busy, but both USG/China and ECSA/China fetching around 14500+450k ballast bonus. It was reported a period fixture with Atlantic delivery of 11/13 months at USD 8500. In the Far East there is enough activity for the market to slowly move upwards even though there are plenty of ships available. Coal to China is probably the main driver. A Pacific round pays around USD 8500, but maybe more interestingly the short period market in Feast pays around USD 7750 indicating that market players doesn´t really believe in this market for the longer term" the shipbroker concluded.
Finally, on the Handy front, it said that "the north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tightened slightly in the US Gulf. For USG - SE Asia/Far East large eco Supra fixed at USD 18k. The Indian iron ore market remains quiet with less activity on WCI & ECI. India/China tct rate would be around USD 5k. Far East continues to be on positive side, 56k dwt fixing passing Spore for nickel ore RV at USD 13500. For Indo-India, large eco Supra now fixed at USD 12500 bss passing Spore. South Africa has been quiet this week. Red Sea fertilisers to India are fixed high teens" it said.
In a similar report, Piraeus-based shipbroker Shiptrade & Services said about the Supramax front that "positive news for the Supramax market, especially in the Atlantic basin, where a number of fronthauls from the USG in combination with the tonnage shortage in the area pushed the BSI at 674 points. Trips from the USG to FEast are expected to pay around USD 16,000 for large-eco Supras, whereas trips with redelivery Continent expect to pay around USD 11,500. On the other hand, the Cont/Med market still suffers of oversupply of Supras resulting to a large number of spot vessels. However, scrap cargoes ex Continent to Emed are regulars, with rates fluctuating around USD 8,500 - 9,000. A number of ballasters towards Gibraltar are expected in order to pursue better cargo availability.
Admittedly, in the Pacific Supramax market, the only support comes from the Indonesian cargoes, whereas the India market has been on the quiet side for another week, however, with significantly good volume of coal and nickel ore cargoes. NOPAC rounds pay approximately USD 8,000 plus a ballast bonus USD 300k. The Indian market is still stable, with Supras being fixed for Indo/India orders with delivery Singapore at levels around USD 10,500 and redelivery ECI. The Indian Iron Ore to China is expected to pay around USD 5,750 but on low volumes, whereas, no change has been observed for another week on the RBCT round, with rates still at USD 8000 + 200K ballast bonus. A small increase in short period requirements has been seen, with rates for large and eco Supras hovering around USD 8,500 to 9,000 levels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- The University of Queensland
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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