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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
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