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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Australian Coal Association
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
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