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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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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- The University of Queensland
- Australian Coal Association
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
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