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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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Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
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