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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
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