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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, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
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