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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
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