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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 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Australian Coal Association
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- The University of Queensland
- Bhatia International Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
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