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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 $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
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