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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pushing the industry’s benchmark, the BDI (Baltid Dry Index) to new lows. As a result, the BDI took a nosedive yesterday to end the session to 1,552 points, losing a total of 4.43% on the day. The biggest contributor to this loss was the Capesize sector, which was down by an impressive 6.33%, while all other sub-segments were also on the red. The Supramax market was down by 1.55%, while the Panamax down by 1.24%.
Commenting on the Capesize market, the latest weekly report from shipbroker Fearnleys said that “for obvious reasons the market in general has been quiet through the holiday season. Few fixtures were concluded last week, and those few were done at lower levels. The early new year sentiment, together with a number of vessels already in ballast has pressed the market down further. The most recent fixtures from West Australia are down from the USD 11+ level to the upper USD 10´s, with a negative trend. On the front haul, the uncovered demand remaining for January is still unclear, as China is only just back at work, but there are not many vessels that can make January cancelling in Brazil. This could keep a bit of pressure on this leg.
The transatlantic market has not woken up yet. Period has been limited to some renewals in direct continuation for 12-month charter, and at flat USD 17-18k level, but this is not believed to be sustainable” said Fearnleys.
Similarly on the Panamax front, it mentioned that “the Panamax market experienced a slow start to 2012 with holidays still in some countries. Lack of trading in both hemispheres and a growing list of spot tonnage made the rates slip even further. Mid week we see some more cargoes in the Atlantic which should lead to more activity, but most likely not enough to stop the downward trend this week. Most of the major charterers cleared out their program prior Christmas, and we do not expect any major upturn in the market until 2nd half of January. Tarvs now being fixed around USD 14k while the front hauls are paid around USD 23/24k level. In the Pacific the rounds are being concluded at low teens. The period market experienced some more activity at the start of 2012, as more takers are there at the present levels. Some owners are willing to give options to the periods which in turn attract even more interest” said Fearnleys.
Meanwhile, in a separate report at the start of the week, ICICI Securities provided its own insight on the trends which will dominate the shipping this year. According to it, “the shipping industry is currently passing through a downturn, which is likely to be prolonged. A moderation in demand and substantial increase in supply on account of new vessel additions is expected to keep freight rates subdued. Global dry bulk fleet capacity is 540 million dwt and an additional 256 million dwt i.e. 47 % of the existing fleet is likely to be added over the next two years. Global tanker capacity is 470 million dwt and an additional 122 million dwt i.e. 26% of the existing fleet is likely to be added over same period. Hence, there will be a substantial overhang from large fleet additions over the next couple of years. China has been the main driver of commodity demand. Though Chinese demand for coal has sustained, with China’s iron ore inventory at an all time high level of 96.9 million ton (MT), iron ore demand could see moderation over the next three or four quarters. Any slowdown in the Chinese commodity off take could lead to subdued demand for dry bulk carriers and thereby keep a tab on the up move in freight rates. The US and Europe are the main drivers of crude and refined oil products demand. As the recovery in both countries is likely to be modest, the demand for crude/product carriers is also likely to be subdued. Freight rates are expected to be under constant pressure on account of demand moderation and supply overhang. Hence, the operating performance of shipping companies is expected to be subdued.
Companies with high debt and lower fleet utilisation could also report reduction in profitability. However, the offshore shipping segment offers the best play in the entire shipping space on account of firmness in crude oil prices. In CY11, average crude prices have been at UD 111/barrel, which should lead to higher expenditure on exploration & processing leading to higher requirement of oil drilling assets and offshore vessels. Utilisation levels for most categories of rigs have sustained above 80% for major part of CY11. Average utilisation during H2CY11 for drillship, semisub and jack up has been 81%, 87%, and 80%, respectively. Sustained high utilisation levels are expected to have a positive impact on vessel day rates” concluded ICICI Securities.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
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