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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, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
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