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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in the percentage of cancellations and delays witnessed. According to a recent report from shipbroker Intermodal, "at the same time for 2012 we have already seen around 53 vessels being delivered so far, while another 437 are scheduled for delivery till the end of the year. This is the majority of the current orderbook accounting for just over 72 percent of its total.
With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011. However even taking a modest approach, whereby expecting an equal rate of cancellations and delays as last year, at least 140 of the vessels scheduled for delivery for 2012, are unlikely to have entered the water by the end of the year.
"Simultaneously, there has been a growing interest in the new Ultramax designs, were we have already seen 9 vessels delivered in 2010, 20 in 2011 and another 4 this year so far. With many owners now unwilling to further add to the growing overcapacity problem, new orders this year have mainly focused on designs that offer any cost advantage when compared to the already in service fleet. These new Ultramax designs have offered much improvement in fuel efficiency while adding further cargo capacity when compared to the typical supramax designs" said Intermodal’s George Dimitriadis.
He concluded by mentioning that “few owners however, seem convinced of the benefits they will bring and even more that they will not be much better off than the rest of the fleet in period of poor freight market conditions. The truth is that, parcel sizes are unlikely to change that soon to accommodate the larger carrying capacity, while on the fuel efficiency part it seems as though the difference in consumption is relatively small, while with the ever increasing bunker prices, we are likely to see newer designs offering much higher fuel economy” said Dimitriadis.
In a separate report from Intermodal, George Eliades examined the latest data from China. He said that “with recent estimates putting Chinese growth below the levels originally hoped for, the shipping markets have started to feel the strain. Having said that growth levels are still more bullish then what has been witnessed lately in the commodities market, while the China’s economic policy priority has remained to maintain relatively fast growth. The question that has arisen these past months is as to what extent Beijing is willing to guard against inflation risks in favour of measure to push for faster growth.
China’s reforms to rebalance its economy have gone way beyond the housing sector and will continue to be targeted towards achieving relatively fast growth and stable prices that should help total trade maintain double digit growth this year, according to a recent speech given by Vice Premier Li Keqiang. "We will make policies more targeted, flexible and forward-looking to maintain relatively fast economic growth and keep price levels basically stable," he said in a speech at an economic policy conference. Li said that there were some encouraging signs emerging about the pace of global economic recovery, and forecast that China's total trade would top $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
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