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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Siam City Cement - Thailand
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Indian Oil Corporation Limited
- Australian Coal Association
- Planning Commission, India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
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