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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Bhushan Steel Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
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