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Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
 The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benchmark plunged by 7.38% to reach just 1,105 points, almost half of where it stood as 2011 ended. These past few sessions have reminded ship owners just how fragile the market remains, as the pace of the fall of freight rates is equivalent of the crisis days of 2008, now 3.5 years ago. Capesizes lost a staggering 9.74 percent just yesterday and more than 20% since the start of 2012, an indicative sign of the lack of demand in the market and a flood of newbuilding deliveries.
In its latest weekly report, shipbrokers Intermodal said that a rebound in freight rates would be hard to be seen in 2012, unless Chinese growth exceeds the pundits expectations or unless another demand driver like China appear in the picture. "India may play this role as its ever increased demand to import coal to feed its power plants could absorb some tonnage and support freight rates especially for the bigger vessels. Already the state owned mining company Coal India plans to open new mines in Indonesia in order to cover future needs. Although it is not possible to find such support from one day to another, India will definitely play its catalytic role as a demand driver and supporter of the dry bulk market for the next couple of years" said Intermodal's Yannis Olziersky.
He went on to mention that "the global economic outlook for 2012 is not looking much healthier than last year and with an increased supply of new vessels hitting the water, shipowners are getting prepared for an even worse market then the one that past. The target for this year should be the same as 2011, weathering the lows.
Demand wise analysts are expecting the volume of cargoes which are transported by dry bulk carriers to show some growth; however same are expecting 2012 to be the weakest growth in demand in at least a decade, especially for shipments of iron ore. This is due to the slowing Chinese growth which is expected to drop to 8.5 percent this year compared with 9.2 percent in 2011. Analyst forecast that China is expected to import 5.8 percent more iron ore this year against the 10 percent in 2011, a quite significant difference which will logically put pressure on freight rates, bearing in mind that the industry is expected to face the biggest fleet growth in recent history. Already the rally in capesize rates which began in August is fading and the BCI has lost 40 percent since its peak in December 12th" said Mr. Olziersky.
On the demolition front, Clarkson Hellas said earlier this week that "2012 has begun very positively with news that Bangladesh is on the verge of re-opening and on the back of a stable currency and improved steel prices domestically, India increasing their price indications and Chinese breakers continuing their aggressive stance from last year. However, on paper everything looks rosy, but an air of caution is still to be adopted as currently, Bangladesh remains closed until the hearing due next Thursday 12th, and Indian rates are on the rise but only because some cash intermediaries appear to be speculating on the re]opening of the Bangladeshi market and as such, the current improved rates seen for tonnage basis delivery India are not being justified on the waterfront at Alang. The concern for most is the tremendous amount of tonnage being proposed to the market since the turn of the year and whether the current firm rates can hold. Many parties believe that when Bangladesh officially re-opens the rates will increase substantially in excess of the USD 500/ldt level, however this is again pure speculation and if the amount of new tonnage witnessed in the market over the last few days is anything to go by, then the conveyor belt of tonnage supply may affect the breakers mentality in the near future even if Bangladesh does re-open next week as predicted" said Clarkson Hellas.
Intermodal also mentioned in its analysis that "during the first three quarters of the year, demolition activity peaked up, with many vessels heading towards the beach, setting a record at a time when the industry needed it. However the last quarter of the year, activity slowed down as prices softened and cash Buyers were reluctant to acquire more tonnage, mainly due to the extreme fluctuation of the Indian Rupee against the USD and the prevailing uncertainty on steel prices. The good news however, is that Bangladesh is finally set to ratify its regulations on the 12th January and get the green light from the Court to import vessels once again; therefore we believe that this will bring stability and safety to the market, hence scraping activity should logically pick up again, which is of course good news for the oversupplied market" concluded the Piraeus-based shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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 ...
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- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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