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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- MS Steel International - UAE
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
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