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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- The University of Queensland
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
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