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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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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 ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
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