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