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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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- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Australian Coal Association
- The University of Queensland
- Planning Commission, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
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