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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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Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Planning Commission, India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
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