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Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely that the dry bulk market will be able to avoid further falls in terms of freight rates. In its latest weekly report, Intermodal mentioned that dry bulk rates "don't seem to be able to find a solid ground for correction and are stagnating at low levels especially in the bigger sizes such as Panamaxes and Capesizes. Average spot earnings for Capesizes fell significantly and reached their lowest point since December 2008 at rgn $3,500/day (today they stand above $4,000/day) due to the recent slowdown in coal imports from China and the lack of annual growth in iron ore exports from Brazil, which also have some impact on the Panamax sector, although to a smaller extent, which today stand at $7,910/day.
"On the other hand, the Supramax/Handysize sector has seen some signs of recovery, since the rates have found support by the increased movements from Black Sea grain exporters and other Bulk cargoes which use geared units for the transportation, such as steel scrap, fertilizers and sugar. At the time of writing, average earnings in Supramaxes and Handysizes stood at $13,218/day and $10,405/day respectively, which compared to the bigger size vessels, shows the unevenness and the uncertainty of the dry bulk market" said Intermodal's Yannis Olziersky.
He went on to mention that "this current distorted pattern in sport market earnings, which as mentioned above, is partly a result of demand side factors of some commodities, is also explained by the fleet supply growth. Capesize and Panamax combined fleet has grown by 7.0% from the beginning of the year, as opposed to the Handy and Supramax combined fleet growth which has risen approximately by 3.5%.
Poor freight market conditions and lack of interest on vintage second hand tonnage by further trading Buyers continue to push more units to be “beached”, despite the fact that prices have fallen substantially the last two months. This is good news for the industry as scrapping activity is necessary to continue unabated in order to be able to expect a recovery in the future. However, as we have mentioned before, this is not enough as a sharp and protracted slowdown in the pace of new buildings is also a vital and significant condition for an eventual recovery" Olziersky noted.
He added that "on the sale and purchase front, activity remains subdued in view of the poor charter market conditions, despite that prices are still falling. Opportunities on the second hand market are usually coming from Japanese owners who are genuine Sellers and disposing their units at the best obtainable prices. Additionally, other opportunities, in terms of price only, are coming from Chinese shipyards which are disposing their ppt resales for 20% less than a comparable vessel which has been built either in S. Korea or in Japan. Of course this disparity is linked to building quality, specification and consumption and is something which needs to be seriously taken into consideration prior to proceeding with such units.
In general, the present market conditions and short term prospects are negative, however during these adverse times opportunities can be found around the corner; prudent and well placed decisions may lead to oncoming successful investments; after all shipping is not a simple and temporary investment for "easy money", it’s a long term investment which need time and patient in order to gain it's returns and benefits!" he concluded in the report.
In a report last week, DVB Bank mentioned that the BDI’s average during 2011 was 1,529 points, which in turn was 44% below the 2010 average of 2,758 points. So far in 2012, the average is below 950 points and is indicative of the dire position that the market has found itself, as oversupply has “drowned” freight rates. DVB sees a sustained downward trend, stating that even delays caused by port delays and congestions and an increase in demand for dry bulk commodities, haven’t been enough to help absorb the new tonnage which is entering the market at a frenetic pace.
It’s worth noting that so far this year a total of of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet. As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
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