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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
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