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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Economic Council, Georgia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Parliament of New Zealand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- White Energy Company Limited
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
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