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