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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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- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Planning Commission, India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
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