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Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
 The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benchmark plunged by 7.38% to reach just 1,105 points, almost half of where it stood as 2011 ended. These past few sessions have reminded ship owners just how fragile the market remains, as the pace of the fall of freight rates is equivalent of the crisis days of 2008, now 3.5 years ago. Capesizes lost a staggering 9.74 percent just yesterday and more than 20% since the start of 2012, an indicative sign of the lack of demand in the market and a flood of newbuilding deliveries.
In its latest weekly report, shipbrokers Intermodal said that a rebound in freight rates would be hard to be seen in 2012, unless Chinese growth exceeds the pundits expectations or unless another demand driver like China appear in the picture. "India may play this role as its ever increased demand to import coal to feed its power plants could absorb some tonnage and support freight rates especially for the bigger vessels. Already the state owned mining company Coal India plans to open new mines in Indonesia in order to cover future needs. Although it is not possible to find such support from one day to another, India will definitely play its catalytic role as a demand driver and supporter of the dry bulk market for the next couple of years" said Intermodal's Yannis Olziersky.
He went on to mention that "the global economic outlook for 2012 is not looking much healthier than last year and with an increased supply of new vessels hitting the water, shipowners are getting prepared for an even worse market then the one that past. The target for this year should be the same as 2011, weathering the lows.
Demand wise analysts are expecting the volume of cargoes which are transported by dry bulk carriers to show some growth; however same are expecting 2012 to be the weakest growth in demand in at least a decade, especially for shipments of iron ore. This is due to the slowing Chinese growth which is expected to drop to 8.5 percent this year compared with 9.2 percent in 2011. Analyst forecast that China is expected to import 5.8 percent more iron ore this year against the 10 percent in 2011, a quite significant difference which will logically put pressure on freight rates, bearing in mind that the industry is expected to face the biggest fleet growth in recent history. Already the rally in capesize rates which began in August is fading and the BCI has lost 40 percent since its peak in December 12th" said Mr. Olziersky.
On the demolition front, Clarkson Hellas said earlier this week that "2012 has begun very positively with news that Bangladesh is on the verge of re-opening and on the back of a stable currency and improved steel prices domestically, India increasing their price indications and Chinese breakers continuing their aggressive stance from last year. However, on paper everything looks rosy, but an air of caution is still to be adopted as currently, Bangladesh remains closed until the hearing due next Thursday 12th, and Indian rates are on the rise but only because some cash intermediaries appear to be speculating on the re]opening of the Bangladeshi market and as such, the current improved rates seen for tonnage basis delivery India are not being justified on the waterfront at Alang. The concern for most is the tremendous amount of tonnage being proposed to the market since the turn of the year and whether the current firm rates can hold. Many parties believe that when Bangladesh officially re-opens the rates will increase substantially in excess of the USD 500/ldt level, however this is again pure speculation and if the amount of new tonnage witnessed in the market over the last few days is anything to go by, then the conveyor belt of tonnage supply may affect the breakers mentality in the near future even if Bangladesh does re-open next week as predicted" said Clarkson Hellas.
Intermodal also mentioned in its analysis that "during the first three quarters of the year, demolition activity peaked up, with many vessels heading towards the beach, setting a record at a time when the industry needed it. However the last quarter of the year, activity slowed down as prices softened and cash Buyers were reluctant to acquire more tonnage, mainly due to the extreme fluctuation of the Indian Rupee against the USD and the prevailing uncertainty on steel prices. The good news however, is that Bangladesh is finally set to ratify its regulations on the 12th January and get the green light from the Court to import vessels once again; therefore we believe that this will bring stability and safety to the market, hence scraping activity should logically pick up again, which is of course good news for the oversupplied market" concluded the Piraeus-based shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
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