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Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profitability. According to ICAP Shipping congestion of the dry bulk fleet at Australian, Brazilian, Indian and Chinese ports at the end of last week was just above the 60Mdwt mark. "This is the highest level we have seen for thirteen weeks (since the middle of February this year) and is equivalent to around 10% of the total fleet. Interestingly, congestion has risen across all of the sectors from Capesize to Handysize. Capes currently account for 37.7Mdwt of the total queuing at ports, growth of over 7% week-on-week, while Panamaxes account for around 11.8Mdwt, growth of just under 9% w-o-w. Interestingly the largest percentage increases in congestion were for Supramax and Handysize, where on a w-o-w basis it rose by 15% and 25% respectively.
Nevertheless, in terms of deadweight these two sectors combined still accounted for less than total Panamax congestion. Provided all other factors remain unchanged, increased congestion at ports should provide some support to freight rates based on simple supply/demand dynamics; specifically a tightening of tonnage supply" said ICAP Shipping.
In its latest weekly report, shipbroker Intermodal noted that 2011 was a fairly disappointing year for shipping, with a tremendously large mismatch between supply and demand for the dry bulk segment in particular. “This affected both market prices and freight rates which fell close to some of the lowest levels recorded. Prices for tonnage older than 15 years of age reached fairly close to the residual value of the vessel itself (its value in terms of steel). It has been widely regarded in the whole shipping community that the only solution would be to scrap all vessels built prior to the 90's. As a result there has been an immense surge of older tonnage heading towards scrapyards in Bangladesh, China, India, Pakistan and Turkey. During the same period last year 17.8m deadweight has left the world fleet providing the markets with 3.5m tonnes of steel. By the end of 2011 the total amount of carrying capacity sent for scrap had reached 44.2m dwt which is equivalent with 8,7m tonnes of steel. Unfortunately and despite the evident efforts to reduce the fleet size, the large order book kept the supply of vessels on the rise. Around 1,125 dry bulkers (above 20,000dwt) were delivered during 2011, while at the same time only 339 dry bulkers (above 20,000dwt) were sent for scrap” said Spyros Stavropoulos, Intermodal’s analyst.
He went on to mention that “the first five and a half months of 2012 have shown positive signs, as demolition volume has been higher than that seen during the same period last year. Up to now, 25.8m dwt of vintage tonnage has been subtracted from the world fleet, albeit the fall in demolition price levels noted during the past weeks. These encouraging numbers are showing that the shipping community is committed to reducing the world fleet. An example of this temperament are the Capesize bulkers being sent for demolition which are defying the slide in ship scrapping prices”.
Meanwhile, “South Asian yards are well stocked as the subcontinent’s monsoon season approaches, while weakening steel demand in China has made its yards cut back on purchases. Prices in South Asian yards have dropped to $440-445 per ldt for bulkers and $465/ldt for tankers, from $450/ldt and $475-490/ldt the previous week. Chinese yards’ offers are unchanged at $390/ldt for bulkers and $415/ldt for tankers. But that did not stop owners from sending their ageing Capesizes for recycling, amid a still-depressed freight market. Big ships and vessels with rich stainless steel content continued to outperform the ship recycling market. With rates falling by the day, it is advisable for owners to decide the fate of their vessels quickly and take the best price/buyer available, as otherwise they may find themselves chasing down the market.
The drop in prices is explained by the oversupply of demo candidates which has led to an only natural drop in scrap steel prices. We can only hope that the levels of demolition seen so far this year for dry bulkers continue and that a significant amount of the large order book of 1,219 dry bulk vessels scheduled for delivery in the remaining period of 2012 is not fulfilled” Intermodal concluded.
Intermodal had noted that "Hellenic ship owners still occupy the top position amongst buyers in the secondhand S&P market. In its latest report, Intermodal mentioned that “since January they have managed to pick up at least 70 vessels spending over $ 1.2 billion to do so. This is a large difference when compared to the Chinese which hold second place amongst buyers’ nationality, with only 42 vessels reported purchased so far and having spent less than half the amount of that spent by the Greeks. This is even more remarkable when one considers the general lack of financing observed in shipping, let alone that available in the now illiquid Greek market”. In his note, Intermodal’s George Lazaridis stated that “all this points to the fact that Greeks continue to hold a firm belief in the shipping markets, as many of have an extensive experience of the market cycles and are used to navigating through such troubled market conditions. This does not mean that all is well and that there haven’t been or aren’t going to be casualties along the way. After all these cycles provide a cleansing opportunity, removing mismanaged companies and owners while at the same time pushing market players to remain competitive and efficient in the service they provide" he mentioned in a relative report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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Showing 4726 to 4730 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
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