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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
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