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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- The University of Queensland
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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