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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 $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
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