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Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lower prices. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) was up by 1.78% to 1,882 points. Capesizes were once again the strongest performers, with the relative Baltic Capesize Index (BCI) rising by 3.64% yesterday, to reach 3,529 points. Panamaxes also gained 0.36% to increase to 1,693 points. By contrast though, the smaller ship types still seem to suffer, with Handysizes falling once again, this time by almost 1% on the day, with the relative index now at just 606 points. Similarly, Supramaxes shed an additional 2.35% to end the session at 1,248 points.
In a report this week, Intermodal’s George Bassakos said that it has definitely been a bumpy road for shipping this year. The devastating floods in Australia and the lethal tsunami in Japan earlier in the year, were the worst omen but reality proved totally different. Not for all though.... Capes rebounded strongly with fronthaul rates reaching or surpassing the USD 50,000/pd mark (rates not seen again after the party of 2007/2008). Smaller sizes didn’t exactly share the same euphoria but managed to perform relatively well helping the BDI to score a near 80pct increase from February's lows (bit over 1000points) to current highs over 1800 points said Mr. Bassakos.
Raising the question of whether it will be V for Victory… or W for double dip, he mentioned that «it that the market itself reacted spontaneously to overcapacity fears and managed to auto-adjust with increased scrapping (almost 70 capes have been scrapped so far this year), lower ordering and postponed deliveries - for how long though? The demand side of the equation stood particularly well outperforming supply so far, but the headlines from Europe and the United States are not that encouraging for the years to come he said.
Regarding demolition activity during the past week, shipbroker Golden Destiny said in a report that activity remained at low levels again this week with 9 vessels reported to have been headed to the scrap yards of total deadweight of as low as 297,012 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 10% week-on-week decrease and regarding the total deadweight sent for scrap there has been a 21 % decrease. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker sector again by Pakistan for a tanker of 135,915 dwt “FRONT BETA” with 23,563/ldt at $505/ldt. While Bangladesh still remains close and the future of this market will most likely be decided from the next year, India attracted 44% while China and Pakistan followed. At a similar week in 2010, demolition activity was at even lower levels, in terms of the reported number of transactions, with 4 vessels had been reported for scrap of total deadweight 65,716 tons” said the Piraeus-based shipbroker.
In turn, Intermodal said that despite the worsening conditions and considerably poor sentiment circulating the demolition market, it seems as though there was a very slight upswing in offered levels coming from Indian breakers. This seems to have only been in order to secure some high profile units from Pakistani breakers and take the lead in the market, as overall price levels look to be very week and could possibly drop further in the coming days as pressure continues to mount from the poor exchange levels, dropping commodity prices and uncertainty over the Bangladesh market. With respect to the final of these it now looks as though the date for the court hearing has been scheduled for the 14th December while the way things are going it might be further delayed and rescheduled for the new year. Offered Prices were overall stable this week, with wet tonnages holding at about 400-490$/ldt and dry units seeing levels of around 380-460$/ldt said the shipbroker.
In terms of newbuilding activity, Intermodal mentioned that «things are still holding fairly subdued while as we get closer to the holiday season we will likely see the number of enquiries drop further. Despite the heavy marketing pushed by Chinese shipbuilders on the new “eco” designs, we have not yet seen a surge in demand and it seems as though many yards will be closing the year without having reached the initial order targets for 2011 and as many have still a considerable amount of open slots for 2013 and beyond, it will be no surprise if their marketing efforts intensify within 2012. With regard to reported orders this week, Greece’s Polembros seems to be keen on exploiting the low asset values and newbuilding prices while likely holding a firm outlook on the prospects of the Capesize and VLOC market after its recent upward rally, having exercised his two options for newcastlemax (206,000dwt) bulkers this week at China’s Shanghai Waigaoqiao shipyard it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
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