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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
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