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Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affect the market balance. Volumes are strong,but growth is slow and easily outpaced by supply growth. While the recent downturn has been hardest on the Panamax and Capesize segments, the smaller vessel sizes are unlikely to stay immune as the market tumbles. “To sum up our forecast for the coming 6 weeks, BIMCO holds the view that the Capesize Time Charter Average rates will remain at depressed levels but move slowly up from current very low levels but are not expected to exceed USD 10,000 per day. Panamax is expected to stay in the USD 5,000-9,000 per day interval. For the smaller segments, BIMCO forecasts that the Supramax freight rates are likely to stay at the USD 8,000-13,000 per day interval. Handysize rates, moving sideways and less erratic, are set to stay at the interval of USD 8,000-11,000 per day” said BIMCO.
Meanwhile, it notes that the demolition market sentiment is weak right now across the board of the four main breaker nations of Bangladesh, Pakistan, India and China. As May went by, a combination of factors such as falling steel prices, a historically low Indian Rupee against the US Dollar and pretty full scrap yards following the buying spree in first four months, resulted in a quick lowering of the demolition price (USD per ldt) offers from buyers to the tune of 10% over a couple of months. This development has prompted several owners to withdraw scrap candidates from the market as they became unimpressed by the offered rates. At the end of May USD 435 per ldt was offered for General cargo and USD 455 per ldt for tankers. The Indian Rupee was trading at 56.09 to the US Dollar at the end of May, compared with 52.64 a month earlier.
“This may convert the recent rush to the breakers that has taken out dry bulk tonnage almost at record quarterly levels in Q1-2012, but has also taken lots of over-aged containerships and tankers out of the market. During the first quarter 142 vessels of 7.85 million DWT left the dry bulk fleet; this is second only to Q2-2011, where 127 vessels of 8.74 million DWT left the dry bulk fleet according to CRSL data. In spite of the weak sentiment in the demolition market that is likely to slow down activity in the coming months, BIMCO is adjusting its demolition outlook slightly up from 20 million DWT for 2012 as a whole to 25 million DWT. This adjusted outlook comes on the back of an extended poor freight market, a market that appears hard to escape” said BIMCO’s analysis.
TONNAGE SUPPLY
In terms of supply, the report states that “following the largest single months of newbuilt deliveries ever in January 2012, the pace of deliveries has fortunately slowed down closer to 2011 levels. During the past year, deliveries of Handysize vessels have accounted for roughly 10% of added capacity. This stability is mirrored across the dry bulk segment over the past year. However, most recently we have seen some fluctuations in Capesize capacity added to the fleet, increasing from 41% in January to 54% in April. While Handymax and Panamax hold steady at 20% and 25% respectively as a proportion of the dry bulk fleet, Handysize is likely to diminish from current level at 13%, while Capesize is likely to expand as a proportion of the entire fleet. 45% of all new deliveries in the past year were Capesize vessels and the current proportion stands at 41%.
The inflow of newbuilt dry bulk remained larger than expected during April and May, continuing the frantic delivery pace of Q1. During the first 5 months, as much as 47 million DWT set a new World Record, beating the old one from 2011. The frantic pace has put 2012 on course to possibly surpass the 2011 total delivery of 98 million DWT. The upbeat pace is a result of lower than expected delay and slippage. As this new trend appears to be sticky, it has been taken into account and subsequently lifted our delivery estimates for 2012 to 101 million DWT. So far, the active fleet has grown by 5.4% in 2012 as 127 Handysizes, 140 Handymaxes, 162 Panamaxes and 115 Capesize vessels were delivered. Weighing against this massive inflow is strong demolition pace which has accounted for the removal of 13.5 million DWT so far. Recently, demolition prices have decreased somewhat. This may result in a slower demolition pace going forward” mentioned BIMCO.
It concluded on the supply side of the market, by stating that “in the previous report two months ago we provided short-term projections that the Handysize newbuilding prices could be heading further South before firming a bit again. Our estimates were for 32 k-35 k to hit USD 20 million. During May, orders for six 39.5 k Handysize vessels were signed at USD 22.3 million apiece. The vessels were even reported to be highly sophisticated, fuel efficient and built in China. The above-mentioned Handysize orders were amongst the 113 dry bulk orders in total placed during the first five months. This slowdown in ordering is surely a sign of very poor market conditions and a souring of future prospects as the oversupply simply gets worse by the day, as can be seen from the bullish delivery pace. During the first five months of 2011, 253 orders were placed; this translated into an ordering slowdown of 55% in 2012” concluded BIMCO.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
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- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
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- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
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