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