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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- The University of Queensland
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
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