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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 $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Georgia Ports Authority, United States
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