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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- PTC India Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
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