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