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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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Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
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