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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
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