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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
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