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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
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