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Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of the new year, since it ended on a downward spiral back in late December, ahead of the Christmas Holidays. In any case, 2011 proved to be an interesting, yet quite challenging year for dry bulk owners, who will be turning their heads towards the new year with much anticipation, as to what effect will China manage to exert on demand of dry bulk goods.
According to a recent BIMCO analysis on the dry bulk market, “despite the supply-side pressure, we put our money on black and forecast that Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus we expect freight rates to stay sensitive to iron ore price developments but above USD 20,000 per day. A key observation from BIMCO is that we believe mining companies will prefer to sell this important steel production ingredient in larger volumes rather than higher prices, as long as China appears ready to purchase” said the analysis.
It went on to mention that “in order to deliver the support needed to keep rates elevated, Chinese iron ore imports will need a level of 61.2 million tonnes in both November and December, which in turn will bring the annual total import growth to +10% y-o-y. The supporting argument that must trump the negative impact from high stockpiles and slower steel production is the pricing game. China has built a firm reputation for playing the commodity markets well.
Looking beyond the Capesize fleet and into 2012, the smaller-in-size segments are going to experience a healthy slowdown in new deliveries. Right now, deliveries are estimated at 80 million DWT – equal to a fleet growth of 11.4%; a number that is likely to get slightly inflated by vessels that were set for December delivery but end up being January deliveries instead. A potential upside may also come from Russia, if they decide to impose a ban on grain exports to stop excessive outflow of the foodstuff. This will lead to longer hauls, as African and Middle Eastern importers will have to look for alternative sources potentially further away. Should they go to the most likely exporters, Australia or Argentina, the impact on the freight markets will be most significant.
To sum up, BIMCO holds the view that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply will eventually hit back. Meanwhile, we reiterate our forecast on the Panamax and Supramax freight rates that are likely to stay put in the USD 13,000-17,000 per day interval. Handysize rates are expected to gain traction and return to the USD 9,000-13,000 per day interval” concluded BIMCO’s chief shipping analyst, Peter Sand.
Meanwhile, in separate report on the course of second hand sales and newbuilding orders during the final week of the year, Lion Shipbrokers said that “on the dry-bulk front, an even quieter week with very few sales to report; Vintage handysize bulker HUI SHENG (37K BLT 1984/BRAZIL TRADING AS GEARLESS) has changed hands within China for $4.8 mill while gearless ice class 1A box single-decker LONE BRES (4.7K BLT 2000/HOLLAND) went to Norwegian Buyers for $2.85 mill basis annual & intermediate surveys freshly passed. In the Tanker segment, in addition to last week's report, Greek controlled suezmax duo EQUATOR & NAVIGATOR (150K BLT 2006 UNIVERSAL/JAPAN) have been committed en bloc for $44 mill each basis delivery January 2012 to clients of Principal Maritime of U.S.A. Two ex-Dr Peters controlled aframax/LR2 tankers were sold at auction. DS PERFORMER & DS POWER (109K BLT 1999/2000 DALIAN/CHINA) were sold for $15 mill each in auctions in Aruba & Rotterdam respectively, hearing both were bought by the Mortgagee bank, while others suggest by clients of Clearwater. Stainless steel chemical tanker ORIENTAL WISTERIA (12.5K BLT 2001/JAPAN) is reported committed to Chinese Buyers for $10.7 million” said Lion.
On the demolition market, it mentioned that “the news that Bangladesh will most probably re-open around 12th to 14th of January have put smiles upon Shipowners' faces, hoping that competition will push demo-rates above $500 levels. Most notable sale this week is container vessel BUXMASTER (LDT 6.837T, 23K BLT 1986/GERMANY) committed for the bullish price of $508 to India without having any extra features like extra bunkers/propeller or tailshaft to justify this level. The subcontinent's sentiment is positive and prices are ranging at $450 for Bulkers, $475 for tankers & $475 for Container/Tweendeckers. In other major demo-markets, China has improved paying $430 per lt, while Turkey is stable paying $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- MS Steel International - UAE
- Wilmar Investment Holdings
- Economic Council, Georgia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
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