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