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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
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