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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
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