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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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- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
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