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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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- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- White Energy Company Limited
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
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