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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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Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Australian Coal Association
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
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