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Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. This represents a close-to-record level that is only challenged by the deliveries during Q1-2011 where 24.4 million were delivered says BIMCO in an analysis of the dry bulk market. “This development has prompted an upward adjustment to our supply growth forecast for 2012 that now reads 11.4% y-o-y. So far, the active fleet has grown by 2.9% in 2012 as 288 vessels have been delivered, offset by 6.9 million DWT being demolished. The growth in the Handysize segment included 63 vessels of 2.2 million DWT – making the sub-segment grow by 3.2% during the first quarter of 2012. Meanwhile, the Capesize fleet absorbed another 10.5 million DWT, causing the fleet to grow by 4.3% since 1 January.
On the contracting side, things have calmed down significantly. Since the beginning of 2011, newbuilding orders have been fewer and fewer. For seven months in a row, the monthly level of new orders has not exceeded 1.8 million DWT. In comparison, the monthly average of ordered tonnage during 2010 stood at 8.1 million DWT. The remaining order book stays biased towards the larger ships sizes, with the order book to active fleet ratios being the highest for Panamax (60,000-100,000 DWT) at 40.8% with the Capesize segment being runners-up at 32.2%. The corresponding ratios for Handysize and Handymax are 25.4% and 26.8%” said BIMCO in its research note.
Regarding freight rates, it noted that “Capesize Time Charter Average will remain under pressure but improve from current very low levels, although it will not exceed USD 12,000 per day. For the smaller segments, we forecast that the Panamax and Supramax freight rates are likely to get closer to each other and improve, but remain in the USD 8,000-13,000 per day interval. Handysize rates should improve and head up, staying in the interval of USD 8,000-11,000 per day interval” it said.
Demand-wise, BIMCO stated that “there is no doubt that it takes time from when commodities are bought and transportation fixed and executed to the cargo being landed at the buyer’s desired port of discharge. There’s also no doubt that buying activity for staple cargoes such as coal and iron ore was hectic during the final months of 2011. If import figures continue to stay elevated and market conditions for bulkers stay weak, we can only conclude that the oversupply glut is apparently more severe and even heavier than we expected. Weather-related disruptions could not steal the picture from the overall devastating development in dry bulk freight rates that began in the first half of December 2011 and went all the way to early February before the bleeding was stopped. Since then, we have not seen any significant rebound, but rates have firmed slowly. This was in line with our forecast made in the previous report” says the report.
BIMCO further attempted to explain why rates came down that sharply in the first couple of months. “By looking at the import figures for main commodities such as iron ore and coal into China, you will find little indication that demand has died down, but March figures may present a more complete picture. Some commodities have certainly seen a drop in demand.
In the past three months (December-February) China imported 197 million tons of iron ore – up by 12% y-o-y – and 54.8 million tons of coal, up by 36%. This special market condition was a Capesize event only. As the dawn broke on 2012, the overcapacity menace returned with a vengeance, bringing not only Capesize rates to the floor but also Panamax, Supramax and Handysize rates at the same time.
When following the recent development in freight rates it is now crystal clear that the January touch-down was a sticky one. Currently, Capesize rates are still trapped in the shadows of USD 5,000 per day. The Capesize vessels that used to rule the development of freight rates have lost their position. For long periods during 2011 – and again in 2012 – rates were significantly below any other ship size. The fundamental imbalance is taking its toll. On the contrary, Supramax rates have now moved up to USD 10,000 per day, a level sufficient to cover daily running costs. This is sadly not the case for the Capesize segment generally right now. Looking back a little bit on recent history, the overall picture is similar in pattern for the various dry bulk segments, but different in levels. The limited total fleet growth in 2009 was partly due to extensive recycling of tonnage (10.1 million DWT), partly due to the rather limited introduction of new tonnage, a picture that changed completely in 2010 with the first deliveries of an exorbitant ordering spree. Despite a rather healthy demand picture during recent years, it remains a sizeable challenge to the freight markets to absorb so much tonnage. This has once again been carved in stone during the first quarter of 2012 and by seeing the very high segment growth rates for Capesize and Handymax in particular, the latter has been able to weather the storm in much calmer waters due to its more flexible nature in ports, cargoes and grab-fittings” concluded BIMCO.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Australian Coal Association
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
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