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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pushing the industry’s benchmark, the BDI (Baltid Dry Index) to new lows. As a result, the BDI took a nosedive yesterday to end the session to 1,552 points, losing a total of 4.43% on the day. The biggest contributor to this loss was the Capesize sector, which was down by an impressive 6.33%, while all other sub-segments were also on the red. The Supramax market was down by 1.55%, while the Panamax down by 1.24%.
Commenting on the Capesize market, the latest weekly report from shipbroker Fearnleys said that “for obvious reasons the market in general has been quiet through the holiday season. Few fixtures were concluded last week, and those few were done at lower levels. The early new year sentiment, together with a number of vessels already in ballast has pressed the market down further. The most recent fixtures from West Australia are down from the USD 11+ level to the upper USD 10´s, with a negative trend. On the front haul, the uncovered demand remaining for January is still unclear, as China is only just back at work, but there are not many vessels that can make January cancelling in Brazil. This could keep a bit of pressure on this leg.
The transatlantic market has not woken up yet. Period has been limited to some renewals in direct continuation for 12-month charter, and at flat USD 17-18k level, but this is not believed to be sustainable” said Fearnleys.
Similarly on the Panamax front, it mentioned that “the Panamax market experienced a slow start to 2012 with holidays still in some countries. Lack of trading in both hemispheres and a growing list of spot tonnage made the rates slip even further. Mid week we see some more cargoes in the Atlantic which should lead to more activity, but most likely not enough to stop the downward trend this week. Most of the major charterers cleared out their program prior Christmas, and we do not expect any major upturn in the market until 2nd half of January. Tarvs now being fixed around USD 14k while the front hauls are paid around USD 23/24k level. In the Pacific the rounds are being concluded at low teens. The period market experienced some more activity at the start of 2012, as more takers are there at the present levels. Some owners are willing to give options to the periods which in turn attract even more interest” said Fearnleys.
Meanwhile, in a separate report at the start of the week, ICICI Securities provided its own insight on the trends which will dominate the shipping this year. According to it, “the shipping industry is currently passing through a downturn, which is likely to be prolonged. A moderation in demand and substantial increase in supply on account of new vessel additions is expected to keep freight rates subdued. Global dry bulk fleet capacity is 540 million dwt and an additional 256 million dwt i.e. 47 % of the existing fleet is likely to be added over the next two years. Global tanker capacity is 470 million dwt and an additional 122 million dwt i.e. 26% of the existing fleet is likely to be added over same period. Hence, there will be a substantial overhang from large fleet additions over the next couple of years. China has been the main driver of commodity demand. Though Chinese demand for coal has sustained, with China’s iron ore inventory at an all time high level of 96.9 million ton (MT), iron ore demand could see moderation over the next three or four quarters. Any slowdown in the Chinese commodity off take could lead to subdued demand for dry bulk carriers and thereby keep a tab on the up move in freight rates. The US and Europe are the main drivers of crude and refined oil products demand. As the recovery in both countries is likely to be modest, the demand for crude/product carriers is also likely to be subdued. Freight rates are expected to be under constant pressure on account of demand moderation and supply overhang. Hence, the operating performance of shipping companies is expected to be subdued.
Companies with high debt and lower fleet utilisation could also report reduction in profitability. However, the offshore shipping segment offers the best play in the entire shipping space on account of firmness in crude oil prices. In CY11, average crude prices have been at UD 111/barrel, which should lead to higher expenditure on exploration & processing leading to higher requirement of oil drilling assets and offshore vessels. Utilisation levels for most categories of rigs have sustained above 80% for major part of CY11. Average utilisation during H2CY11 for drillship, semisub and jack up has been 81%, 87%, and 80%, respectively. Sustained high utilisation levels are expected to have a positive impact on vessel day rates” concluded ICICI Securities.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- The University of Queensland
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
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