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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, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
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