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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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Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Planning Commission, India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
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