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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Australian Coal Association
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
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