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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Australian Coal Association
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
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