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