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