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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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Showing 5096 to 5100 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
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