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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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