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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
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