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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
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