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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
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