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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- The University of Queensland
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- White Energy Company Limited
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
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