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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
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