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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
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