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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
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