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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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Showing 4911 to 4915 news of total 6871 |
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- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
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