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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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Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- PTC India Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
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