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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
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