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Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
 In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry Index) jump to 1,619 points, or a mssive 5.34% on the day. As a result, the index which covers major commodities routes managed to post a significant gain during the second half of August, ending a more than two-month overall slump to almost 1,200 points.
This latest rise was attributed to a surge in interest for the larger Capesize vessels, while all other ship types were stuck in the red yesterday. Capesizes were higher by an impressive 11.36% on the day, with the relative Baltic Capesize Index inching forward to 2,598 points. On the downside, Panamaxes were down by 0.49% on the day, with the BPI (Baltic Panamax Index) ending the day down to 1,628 points.
Referring on the Capesize market, the latest weekly report from shipbroker Fearnley’s said that “the sun is shining again, after a short dip from interesting levels. Increased spot cargo volumes across the board resulting in a dramatic 15% improvement in average earnings in one day, bringing market back to levels not seen since early winter. All routes expected to rise further, as strong support is also seen from derivatives. Period activity about to catch up, exemplified by 176000 dwt/blt2010 delivering China mid Sept for 11-13 months at usd 14k, also 171000 dwt/blt 2003 fetching usd 14k with China delivery early September” said Fearnley’s.
On the Panamax front it said that “from the market upswing last week, the Panamax market took a breather with holidays both Monday and Tuesday this week. Especially the Pacific market rallied last week with a good number of Indonesian coal cargoes. It seemed like many charterers entered the market at the same time to cover before their holidays this week. The softening experienced this week is not dramatic, but it is slowly sliding downwards in both hemispheres. Some good rates are still achieved with TA´s being fixed in region of usd 14-15k and the fronthauls getting fixed in the low 20´s. In the Pacific the rounds are now being fixed at around USD 11-11,500 daily. Some activity in the short period market is in the 13k range, and there are takers for longer periods like 1 or 2 years” concluded the shipbroker.
Accroding to a recent report from BIMCO’s shipping analyst Peter Sand, the active dry bulk fleet has grown by 7.4% so far in 2011, caused by delivery of 52.5 million DWT, offset by as much as 14.8 million DWT being demolished. As the new building delivery pace stays strong with demolition trying to keep up the fleet is estimated to grow a tad slower at 12.9%. The inflow of new orders during first half of 2011 is down 67% as compared to same period last year. This has influenced the orderbook to fleet ratio positively alongside the massive deliveries. It currently stands at 42% – down from 79% – but still a very high overall figure with 241 million DWT in the pipeline. 79% was recorded in October 2008. “There is still extensive slippage in the orderbook going forward.
BIMCO estimates that one out of every three vessels is postponed for a variety of reasons. The demolition pace continues to stay strong – never before has so much tonnage been demolished. The average size of a vessel going for demolition is 72,647 DWT, meaning that the big ships are now leaving were scrapping smaller ships with an average size of just 38,640 DWT. In 2011, 49% of the demolishing vessels are the large Panamax and Capesize bulk carriers as compared to 15% in 2009” said Sand.
BIMCO predicts that another 450 newbuild dry bulk vessels with an average size of 84,000 DWT will enter the fleet during the remaining part of the year. While some 76 vessels with an average size of 72,500 DWT will be demolished. Commenting on the market’s outlook, BIMCO’s senior shipping analyst said that “on the basis of that supply outlook in a combination with a slower than previously expected demand outlook, BIMCO expects that the market balance will continue to be strongly in favour of charterers, with low freight rates across the board. As the global economy is still walking in the shadows of the financial crisis, demand growth remains on a short leash. Together with the massive inflow of new tonnage, the freight market will spoil charterers for choice for at least another couple of years.
BIMCO will focus specially on the opportunities provided by the demolition market in a soon to be released analysis. You have to be able to endure lots of pain if you are amongst those who are about taking delivery of a newbuild Capesize vessel. Regardless of whether you paid USD 105 million for her back in July 2008 or USD 55 million last January, you have the option of chartering her out for half a year at USD 12,500 per day for 5 years at USD 16,000 per day or to try your luck on the spot market. Either way, you’re facing a poor return on your investment in the coming years unless cargo volumes increase dramatically. 213 Capes entered the fleet in 2010, another 250 is going to be added this year.BIMCO expects to see a depressed freight market in the coming months. Summer has been slow, so freight rates are likely to bottom out now but only a little upside is visible for owners. The Capesize Time Charter Average is likely to stay around USD 12,000-16,000 per day, Panamax and Supramax rates are likely to stay firm in the USD 13,000-17,000 per day. Handysize rates are expected in the USD 9,000-13,000 per day interval” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- The University of Queensland
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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