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Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profitability. According to ICAP Shipping congestion of the dry bulk fleet at Australian, Brazilian, Indian and Chinese ports at the end of last week was just above the 60Mdwt mark. "This is the highest level we have seen for thirteen weeks (since the middle of February this year) and is equivalent to around 10% of the total fleet. Interestingly, congestion has risen across all of the sectors from Capesize to Handysize. Capes currently account for 37.7Mdwt of the total queuing at ports, growth of over 7% week-on-week, while Panamaxes account for around 11.8Mdwt, growth of just under 9% w-o-w. Interestingly the largest percentage increases in congestion were for Supramax and Handysize, where on a w-o-w basis it rose by 15% and 25% respectively.
Nevertheless, in terms of deadweight these two sectors combined still accounted for less than total Panamax congestion. Provided all other factors remain unchanged, increased congestion at ports should provide some support to freight rates based on simple supply/demand dynamics; specifically a tightening of tonnage supply" said ICAP Shipping.
In its latest weekly report, shipbroker Intermodal noted that 2011 was a fairly disappointing year for shipping, with a tremendously large mismatch between supply and demand for the dry bulk segment in particular. “This affected both market prices and freight rates which fell close to some of the lowest levels recorded. Prices for tonnage older than 15 years of age reached fairly close to the residual value of the vessel itself (its value in terms of steel). It has been widely regarded in the whole shipping community that the only solution would be to scrap all vessels built prior to the 90's. As a result there has been an immense surge of older tonnage heading towards scrapyards in Bangladesh, China, India, Pakistan and Turkey. During the same period last year 17.8m deadweight has left the world fleet providing the markets with 3.5m tonnes of steel. By the end of 2011 the total amount of carrying capacity sent for scrap had reached 44.2m dwt which is equivalent with 8,7m tonnes of steel. Unfortunately and despite the evident efforts to reduce the fleet size, the large order book kept the supply of vessels on the rise. Around 1,125 dry bulkers (above 20,000dwt) were delivered during 2011, while at the same time only 339 dry bulkers (above 20,000dwt) were sent for scrap” said Spyros Stavropoulos, Intermodal’s analyst.
He went on to mention that “the first five and a half months of 2012 have shown positive signs, as demolition volume has been higher than that seen during the same period last year. Up to now, 25.8m dwt of vintage tonnage has been subtracted from the world fleet, albeit the fall in demolition price levels noted during the past weeks. These encouraging numbers are showing that the shipping community is committed to reducing the world fleet. An example of this temperament are the Capesize bulkers being sent for demolition which are defying the slide in ship scrapping prices”.
Meanwhile, “South Asian yards are well stocked as the subcontinent’s monsoon season approaches, while weakening steel demand in China has made its yards cut back on purchases. Prices in South Asian yards have dropped to $440-445 per ldt for bulkers and $465/ldt for tankers, from $450/ldt and $475-490/ldt the previous week. Chinese yards’ offers are unchanged at $390/ldt for bulkers and $415/ldt for tankers. But that did not stop owners from sending their ageing Capesizes for recycling, amid a still-depressed freight market. Big ships and vessels with rich stainless steel content continued to outperform the ship recycling market. With rates falling by the day, it is advisable for owners to decide the fate of their vessels quickly and take the best price/buyer available, as otherwise they may find themselves chasing down the market.
The drop in prices is explained by the oversupply of demo candidates which has led to an only natural drop in scrap steel prices. We can only hope that the levels of demolition seen so far this year for dry bulkers continue and that a significant amount of the large order book of 1,219 dry bulk vessels scheduled for delivery in the remaining period of 2012 is not fulfilled” Intermodal concluded.
Intermodal had noted that "Hellenic ship owners still occupy the top position amongst buyers in the secondhand S&P market. In its latest report, Intermodal mentioned that “since January they have managed to pick up at least 70 vessels spending over $ 1.2 billion to do so. This is a large difference when compared to the Chinese which hold second place amongst buyers’ nationality, with only 42 vessels reported purchased so far and having spent less than half the amount of that spent by the Greeks. This is even more remarkable when one considers the general lack of financing observed in shipping, let alone that available in the now illiquid Greek market”. In his note, Intermodal’s George Lazaridis stated that “all this points to the fact that Greeks continue to hold a firm belief in the shipping markets, as many of have an extensive experience of the market cycles and are used to navigating through such troubled market conditions. This does not mean that all is well and that there haven’t been or aren’t going to be casualties along the way. After all these cycles provide a cleansing opportunity, removing mismanaged companies and owners while at the same time pushing market players to remain competitive and efficient in the service they provide" he mentioned in a relative report.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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Showing 4726 to 4730 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- McConnell Dowell - Australia
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