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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, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Planning Commission, India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
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