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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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Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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Showing 5086 to 5090 news of total 6871 |
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- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- White Energy Company Limited
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
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