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