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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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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
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