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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
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