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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PTC India Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
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