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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- PTC India Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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