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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- White Energy Company Limited
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
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