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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
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