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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Minerals Council of Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
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