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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
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