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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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Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
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- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- MS Steel International - UAE
- Australian Coal Association
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Minerals Council of Australia
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