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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
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