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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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- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Australian Coal Association
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
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