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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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- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
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