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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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Showing 4726 to 4730 news of total 6871 |
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- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- The University of Queensland
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
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