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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 $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
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