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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
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