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Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the other shipping segments, with the exception of Handysizes, which kept falling. According to the industry’s benchmark, the Baltic Dry Index (BDI), the market was higher by 2.06% yesterday, reacing 1.884 points, with Capesizes stealing the “show”, as the relative BCI (Baltic Capesize Index) increasing by 3.7% to 3,223 points. Panamaxes were also higher by 0.85% to 1,784 points.
In its latest weekly report, Shiptrade Services commented on the Capesize market by saying that experienced a positive week across both basins. “Atlantic basin was tight for prompt tonnage and Charterers had to increase their levels. Rates for Transatlantic rounds concluded at USD 33.000per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 47.000per day. On the Tubarao/Qingdao trade there were not many prompt ballasters from the Pacific, and rates picked up at USD 25.25 pmt. In the Pacific basin, the iron ore majors came into the market and covered some of the prompt tonnage which resulted in rates improvement. At weeks end, rates for the Australia/China trade concluded at USD 11.50pmt, while on TCT basis, rates for Pacific round concluded at USD 22.000 per day basis N.China delivery”.
Similarly, on the Panamax front it noted that “rates in the Atlantic softened just a bit, but rates in the Pacific are under pressure. In the Atlantic basin we saw a clear out on the prompt vessels, with rates remaining more or less at the same levels since last week, or soften just a touch. Rates for Transatlantic round concluded at USD 16-16.500, while rates for Fronthaul trips concluded at USD 24-25.500per day. Rates for trips ex USG to F.East concluded at USD 25.500+550.000 BB basis APS USG. In the Pacific basin activity was not high as there were not many cargoes ex Indonesia or Australia and tonnage was building up. At week’s closing, rates for S.China/S.E.Asia positions interested for Indonesia round, concluded at USD 11.500 – 12.000per day. For positions at N.China/Japan range interested for trips ex NOPAC there were just a few parcels and fixtures reported at rates of USD 10-11.000per day” mentioned Shiptrade Services.
Meanwhile, in a separate report, shipbroker Intermodal warned that despite the high number of ships sold for demolition this year, oversupply remains a headache for most ship owners and especially for those who own or operate Capesizes. “This size has suffered extensively since the beginning of the summer and despite the recent recovery recorded since early September, it is forecast to face serious problems in the coming months and years as well. Fleet growth is forecast to increase by as much as 40% within next three years, meaning that there will be no shortage of tonnage in the market for the next couple of years. At the same time iron ore demand is predicted to stagnate to low single digit growth levels over the same time period” said Intermodal’s Panos Makrinos in his analysis.
He went on to add that “the world’s dry bulk shipping industry experienced a extraordinary over supply of dry bulk vessels which resulted in the almost complete collapse of freight rates for Capes and VLOCs. According to Mr. David Smith, director assistant at PwC strategy, ship-owners were wrongfully placing their hope on a Chinese demand for iron ore that would continue to grow at the same pace as it had done over the past decade. Although there is still an amazing infrastructure investment growth rate in China, it will only partly cover and counterbalance the oversupply of capesize tonnage in the near future.
Despite all these pessimistic views for this size vessel, we have seen considerable activity in the secondhand market in comparison to all other dry bulk size segments this year. Up until now we have seen a total of 41 Capes having exchanged hands. What’s more notable is that close to 40% of these were done during the summer period (July-September) were the freight market was scrapping close to bottom. Secondhand prices have not followed a similar decline to that seen in the freight market this year, with price levels on average dropping by only 20% since January. With all that in mind, it seems that there is now only a few number of buyers out there which are holding a positive investment outlook and ready to act, while at the same time scrap prices have also started to soften. Considering all of the above, it is likely that we will see a number of owners who are pressured by high debt, selling their capesize vessels and in effect exiting this size segment before the market is burdened with further new deliveries. Of course, the recent recovery in Capesize rates has been substantial these last three months, but this cannot be taken as something permanent since the continued overcapacity, will most probably push for another collapse within next year if not earlier” concluded Intermodal in its analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
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