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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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 ...
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- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- White Energy Company Limited
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
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