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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
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