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