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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, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
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