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