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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in the percentage of cancellations and delays witnessed. According to a recent report from shipbroker Intermodal, "at the same time for 2012 we have already seen around 53 vessels being delivered so far, while another 437 are scheduled for delivery till the end of the year. This is the majority of the current orderbook accounting for just over 72 percent of its total.
With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011. However even taking a modest approach, whereby expecting an equal rate of cancellations and delays as last year, at least 140 of the vessels scheduled for delivery for 2012, are unlikely to have entered the water by the end of the year.
"Simultaneously, there has been a growing interest in the new Ultramax designs, were we have already seen 9 vessels delivered in 2010, 20 in 2011 and another 4 this year so far. With many owners now unwilling to further add to the growing overcapacity problem, new orders this year have mainly focused on designs that offer any cost advantage when compared to the already in service fleet. These new Ultramax designs have offered much improvement in fuel efficiency while adding further cargo capacity when compared to the typical supramax designs" said Intermodal’s George Dimitriadis.
He concluded by mentioning that “few owners however, seem convinced of the benefits they will bring and even more that they will not be much better off than the rest of the fleet in period of poor freight market conditions. The truth is that, parcel sizes are unlikely to change that soon to accommodate the larger carrying capacity, while on the fuel efficiency part it seems as though the difference in consumption is relatively small, while with the ever increasing bunker prices, we are likely to see newer designs offering much higher fuel economy” said Dimitriadis.
In a separate report from Intermodal, George Eliades examined the latest data from China. He said that “with recent estimates putting Chinese growth below the levels originally hoped for, the shipping markets have started to feel the strain. Having said that growth levels are still more bullish then what has been witnessed lately in the commodities market, while the China’s economic policy priority has remained to maintain relatively fast growth. The question that has arisen these past months is as to what extent Beijing is willing to guard against inflation risks in favour of measure to push for faster growth.
China’s reforms to rebalance its economy have gone way beyond the housing sector and will continue to be targeted towards achieving relatively fast growth and stable prices that should help total trade maintain double digit growth this year, according to a recent speech given by Vice Premier Li Keqiang. "We will make policies more targeted, flexible and forward-looking to maintain relatively fast economic growth and keep price levels basically stable," he said in a speech at an economic policy conference. Li said that there were some encouraging signs emerging about the pace of global economic recovery, and forecast that China's total trade would top $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- PTC India Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
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