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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 $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- VISA Power Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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