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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Australian Coal Association
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
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