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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- PTC India Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
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