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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, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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Showing 4711 to 4715 news of total 6871 |
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- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
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