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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- ASAPP Information Group - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
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