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Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that even China in its best of years, wouldn’t be able to keep up with the current supply dynamics. In fact, analysts have mentioned that it would take for a couple of more “Chinas” nowadays, in order for demand to catch up with the current fleet of dry bulk carriers. As of the start of the year, the global outstanding orderbook for dry bulk vessels stood at 2,375 ships, with a potential carrying capacity of approximately 200 million dwt tons. According to the latest weekly report from shipbroker Intermodal, out of the alarmingly large total of these orders, 1,677 ships of 139 million dwt were scheduled to be delivered during 2012. Under this scenario approximately 70% of the bulker orderbook was scheduled to be delivered during 2012.
With 7 months already gone by and as of 1st of Aug 2012, it is interesting to see the progress. According to Intermodal’s John Cotzias, “the active bulker fleet stands at 8,477 ships and 645mil tons of carrying capacity. During 2012 the active bulker fleet has grown by 6% in ships and 8% in total dwt. VLOC’s in 2012 have grown by 17%, Capesize 4%, Post Panamax 14%, Panamax 6%, Supramax 12%, Handymax reduced by -5% while Handysize increased by only 2%.
At the same time, Newbuilding bulker deliveries are holding strong with around 4 new ships being delivered every day (809 ships of 70mil tons dwt)!! It is worth noting that slippage (expected deliveries less actual deliveries ) was calculated at abt. 15% for the 1st Half of 2012 while it is accelerating after June, giving us a present figure of around 17%. There were 1,677 ships deliveries originally scheduled for 2012, so we could assume that if the current trend continued, there would be 1,390 ships delivered in 2012. However as the slippage rate increases and traditionally as we move towards Nov-Dec more ships are belated to take advantage of a later year of built, so we may expect that the total dry bulker deliveries for 2012 will reach a record high number of around 1,250 ships and abt. 108mil tons of extra dwt carrying capacity. Slippage therefore is estimated to reach around 23-25% for the current year” he said.
According to Intermodal, “looking into deliveries of specific bulker size segments in 2012, we have recorded 49 VLOC’s, 91 Capes, 73 Post Panamax, 168 Panamax, 226 Supramax, 13 Handymax and 189 Handysize being delivered. In 2013 the world bulker fleet will have a capacity of about 750mil tons and this is a reality that we all have to face…!” the report stated.
According to Mr. Cotzias, “there is just too much supply of tonnage that will only push further the gap between available ships for trading and available cargoes. Fleet growth for 2012 is estimated at 20%, and this increase can never be matched by seaborne dry cargo growth which may run at a mere 4-6% given best world economic conditions.
Scrapping has aided the bulker sector tremendously, as more than 21mil tons of dwt, abt 340 ships have been removed from the active fleet, this gives us around 1.6 dry bulker ships scrapped per day! Average age of the ships scrapped is now coming down to 21 years. Offered scrap prices looked rather attractive during first half of 2012 and that further assisted most owners in deciding to send more vessels to the breakers rather than seek buyers for further trading. According to our estimates abt. 500 ships of 30-31mil tons of dwt will be taken for demo during 2012 and this is approximately 6% of the active fleet. Let’s keep this scrapping going!” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- ASAPP Information Group - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
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