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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
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