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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
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