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Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which are leading the market. Instead, it’s the smaller ship types which are offering support to the market and are leading the industry’s benchmark, the BDI (Baltic Dry Index) to higher ground. Yesterday, the BDI was up by 0.57% to 879 points, led by the Panamax market, which rose by 1.96% to 990 points. It was closely followed by the Supramax segment, which saw an increase of 1.26% versus the previous session (963 points), while the Handysize market was also up by 1.18% to 513 points, after plunging to incredible lows.
Still, in a recent note, shipbroker RS Platou, warned that the recent cyclones which have struck the main iron ore shipping facilities of Australia, leading to a shutdown of the country’s leading iron ore exporting port, the Port of Headland, could be negative for fixture activity in the near term.
In any case, the BDI has been trading at near-record lows since the start of the year. the index fell by 44% during 2011, from an average of 2,761 points in 2010, to just 1,548 in 2011. In a recent report, Danish Ship Finance said that “the second half of 2011 saw a temporary spike in the index as Chinese steel producers stockpiled iron ore. In 2012, the Baltic Dry Index began the year with a sharp decline. By the end of February 2012, the daily observations of the index had fallen below 700. The monthly average stood at 703, down 40% year-on-year. Such levels have not been seen since late 2008 when the credit crisis was at its worst. By then, rates dropped because demand more or less evaporated overnight as the credit crisis took its toll on the world economy. Today, however, the low freight rates are mainly weighed down by a large supply of new dry bulk vessels” said the report.
In fact, during 2011, a total of 96 million dwt of new bulk carriers were added to the world’s fleet, while another 2 million dwt were converted from tankers to dry bulk vessels. In total 98 million dwt was added to the Dry Bulk fleet during 2011 (85 million dwt in 2010), an increase of 16% from 2010. The Capesize segment accounted for the largest share of delivered tonnage. 48% of delivered tonnage – or 248 vessels - were Capesizes, according to Danish Ship Finance. This, despite the fact that many owners “scrambled to either cancel or postpone their orders in 2011. In the orderbook as of April 2011 a total of 102 million dwt was still on order for delivery in 2011. By January 2012 a total of 14 million dwt of orders had been cancelled. Another 29 million dwt had had their scheduled delivery postponed into 2012 or beyond. Only 56 million dwt of the April 2011-orderbook scheduled for delivery in 2011 actually reached the oceans in 2011. That is a delivery performance of only 55% since April 2011” said the report.
Some relief was provided through the scrapping activity of older vessels, which took off during the past year, driven primarily by continuously low rates, shorter fixing periods and the incredible inflow of new tonnage. A total of 23 million dwt was scrapped during 2011 (7 million dwt in 2010). That is, 4% of the entire fleet was scrapped in 2011. Scrapping activity was the highest in the Capesize and Handysize segments with 5% and 7% of the respective fleets being scrapped.
“The remarkable levels of postponement and cancellations in combination with the record high scrapping activity helped to curb fleet growth despite the astonishing amount of new tonnage reaching the seas. The fleet grew 14% in 2011 (75 million dwt). That is down from 17% fleet growth in 2010 (78 million dwt), but still more than what was absorbed by demand growth during the same period. By end of December 2011, the total Dry Bulk fleet amounted to 611 million dwt – up by more than 50% since the eve of the financial crisis in 2008” said Danish Ship Finance, providing a clear explanation of the reason freight rates remain subdued since the beginning of the year.
The imbalance between supply and demand is pretty clear. According to Danish Ship Finance, “iron ore trade expanded 8% (99 million tonnes) in 2011 down from 11% growth (126 million tonnes) in 2010. With a total of 1,373 million tonnes of iron ore transported by sea in 2011, iron ore remains the largest seaborne commodity and the largest contributor to total seaborne trade growth in 2011. Growth was mainly driven by Chinese demand. China remains the single most important iron ore importer, accounting for 74% of the entire growth in the iron ore trade in 2011. The corresponding supply of iron ore to feed world demand was mainly driven by an 11% increase (37 million tonnes) in Brazilian iron ore exports followed by Australian exports which was up by 6% (26 million tonnes) in 2011.
Trade in coal and coke grew by 10% (92 million tonnes) in 2011 (fig. 6). This was slightly higher than the growth in 2010 (80 million tonnes) and mainly driven by demand from Asian countries. Particularly India has increased its imports of coal and coke. Indian imports rose by 25% (26 million tonnes) in 2011. But also Japanese imports of steam coal are up again following the devastating tsunami in early 2011. The added demand was mainly fed by an increase in supplies from Indonesia. Indonesian exports of coal and coke were up 14% in 2011 (37 million tonnes). Weather-related disruptions to Australian production of coal and coke in early 2011 meant that exports from Australia grew by a modest 4% (11 million tonnes) in 2011” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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Showing 4766 to 4770 news of total 6871 |
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- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
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