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