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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
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