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Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, ending yesterday’s session up by 0.28% at 706 points. Still, it was the Panamax market’s dreadful state that prevented the market from recovering even more, as the respective BPI (Baltic Panamax Index) was down by 2.53%, offsetting the rest of the market. Capesizes were up by 0.75% yesterday to 1,471 points, while Supras and Handies were also trading on a higher note, ending the session with gains of 0.94% and 1.03% respectively.
In any case the market is hugely depressed as a result of tonnage oversupply. In a recent research note, Mr. George Lazaridis of shipbroker Intermodal noted that “in the beginning of 2011, we had around 1,447 vessels scheduled for delivery plus another 111 vessels which were originally scheduled for 2010 and had been delayed and rescheduled to be delivered in 2011. Of these, only 1,007 were eventually delivered, while 403 were rescheduled for a later delivery date and 148 were cancelled. In terms of the original orders, this is a cancellation rate of close to 10% and a slippage rate of more than 25%” said Mr. Lazaridis in an effort to shed some light on the dry bulk market’s most pressing issue.
He went on by stating that “for 2012 things look a lot grimmer, with over 1,714 vessels now scheduled for delivery this year of which 403 of these are vessels that were originally planned for a 2011 delivery. Taking a case where we would see similar percentage of cancellations and slippages, the total number of deliveries could still reach as high as 1,115 vessels. However, even this is likely to be too high of an estimate as we are facing a lot more problems in the market then we were a year back” Mr. Lazaridis said.
According to his note, “the charter market has deteriorated considerably compared to the levels seen during the same period last year. What is more, is that the charter market has been generally in trouble for some time now, which means that owners have more than once had to reach into their pocket in order to keep their vessels’ operations running smoothly. This means that many have been left with minimal excess cash and would look more favorably at the option of delaying their newbuilding orderbook and as such delaying the payment schedules as well. At the same time sourcing finance for shipping assets has only gotten worse, and it is expected that quite a significant portion of the orderbook has not managed to secure financial backing, in effect further decreasing the possibility that these vessels will be built. All in all we could end up seeing less than 60% of the scheduled deliveries actually hitting the water within this year, which although a still considerable number in terms of active fleet growth is still more manageable and would leave prospects of a quicker market recovery” concluded Intermodal’s analyst.
In another market analysis, CARE Research said that it expects the shipping volumes in the dry bulk segment to continue to remain driven by the Chinese demand for coal and iron-ore. In addition, the Japanese import demand for coal and iron ore for the nation’s re-building efforts post the natural disasters is expected to propel the dry bulk trading volumes. However, with the dry bulk vessel deliveries as a % of existing fleet expected to average 25.5% and 6.8% for CY12 & CY13, the additions to the already excess capacity of dry bulk fleet is expected to affect the freight rates. Correspondingly, CARE Research expects the BDI is to remain range-bound ranging from 1,500- 3,000 levels during CY12 & CY13.
Adding further to to the worsening situation of declining trading volumes and over-capacity of existing vessels, CARE Research expects the global fleet size to surge from 1,030.7 million GT as on December 31, 2011 to 1,200.8 million GT as on December 31, 2013 implying a CAGR of 7.9%. This in turn would affect the utilisation rates of vessels ultimately resulting in decline of freight rates. CARE Research expects the said growth in fleet size to be primarily driven by the orders in the dry bulk segment accounting for 35.5% of the total dry bulk fleet size as on November 30, 2011.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
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