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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
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