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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Ministry of Mines - Canada
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