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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, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
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