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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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Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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Showing 4701 to 4705 news of total 6871 |
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- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- ASAPP Information Group - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- The University of Queensland
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