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Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, ending yesterday’s session up by 0.28% at 706 points. Still, it was the Panamax market’s dreadful state that prevented the market from recovering even more, as the respective BPI (Baltic Panamax Index) was down by 2.53%, offsetting the rest of the market. Capesizes were up by 0.75% yesterday to 1,471 points, while Supras and Handies were also trading on a higher note, ending the session with gains of 0.94% and 1.03% respectively.
In any case the market is hugely depressed as a result of tonnage oversupply. In a recent research note, Mr. George Lazaridis of shipbroker Intermodal noted that “in the beginning of 2011, we had around 1,447 vessels scheduled for delivery plus another 111 vessels which were originally scheduled for 2010 and had been delayed and rescheduled to be delivered in 2011. Of these, only 1,007 were eventually delivered, while 403 were rescheduled for a later delivery date and 148 were cancelled. In terms of the original orders, this is a cancellation rate of close to 10% and a slippage rate of more than 25%” said Mr. Lazaridis in an effort to shed some light on the dry bulk market’s most pressing issue.
He went on by stating that “for 2012 things look a lot grimmer, with over 1,714 vessels now scheduled for delivery this year of which 403 of these are vessels that were originally planned for a 2011 delivery. Taking a case where we would see similar percentage of cancellations and slippages, the total number of deliveries could still reach as high as 1,115 vessels. However, even this is likely to be too high of an estimate as we are facing a lot more problems in the market then we were a year back” Mr. Lazaridis said.
According to his note, “the charter market has deteriorated considerably compared to the levels seen during the same period last year. What is more, is that the charter market has been generally in trouble for some time now, which means that owners have more than once had to reach into their pocket in order to keep their vessels’ operations running smoothly. This means that many have been left with minimal excess cash and would look more favorably at the option of delaying their newbuilding orderbook and as such delaying the payment schedules as well. At the same time sourcing finance for shipping assets has only gotten worse, and it is expected that quite a significant portion of the orderbook has not managed to secure financial backing, in effect further decreasing the possibility that these vessels will be built. All in all we could end up seeing less than 60% of the scheduled deliveries actually hitting the water within this year, which although a still considerable number in terms of active fleet growth is still more manageable and would leave prospects of a quicker market recovery” concluded Intermodal’s analyst.
In another market analysis, CARE Research said that it expects the shipping volumes in the dry bulk segment to continue to remain driven by the Chinese demand for coal and iron-ore. In addition, the Japanese import demand for coal and iron ore for the nation’s re-building efforts post the natural disasters is expected to propel the dry bulk trading volumes. However, with the dry bulk vessel deliveries as a % of existing fleet expected to average 25.5% and 6.8% for CY12 & CY13, the additions to the already excess capacity of dry bulk fleet is expected to affect the freight rates. Correspondingly, CARE Research expects the BDI is to remain range-bound ranging from 1,500- 3,000 levels during CY12 & CY13.
Adding further to to the worsening situation of declining trading volumes and over-capacity of existing vessels, CARE Research expects the global fleet size to surge from 1,030.7 million GT as on December 31, 2011 to 1,200.8 million GT as on December 31, 2013 implying a CAGR of 7.9%. This in turn would affect the utilisation rates of vessels ultimately resulting in decline of freight rates. CARE Research expects the said growth in fleet size to be primarily driven by the orders in the dry bulk segment accounting for 35.5% of the total dry bulk fleet size as on November 30, 2011.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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