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Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely that the dry bulk market will be able to avoid further falls in terms of freight rates. In its latest weekly report, Intermodal mentioned that dry bulk rates "don't seem to be able to find a solid ground for correction and are stagnating at low levels especially in the bigger sizes such as Panamaxes and Capesizes. Average spot earnings for Capesizes fell significantly and reached their lowest point since December 2008 at rgn $3,500/day (today they stand above $4,000/day) due to the recent slowdown in coal imports from China and the lack of annual growth in iron ore exports from Brazil, which also have some impact on the Panamax sector, although to a smaller extent, which today stand at $7,910/day.
"On the other hand, the Supramax/Handysize sector has seen some signs of recovery, since the rates have found support by the increased movements from Black Sea grain exporters and other Bulk cargoes which use geared units for the transportation, such as steel scrap, fertilizers and sugar. At the time of writing, average earnings in Supramaxes and Handysizes stood at $13,218/day and $10,405/day respectively, which compared to the bigger size vessels, shows the unevenness and the uncertainty of the dry bulk market" said Intermodal's Yannis Olziersky.
He went on to mention that "this current distorted pattern in sport market earnings, which as mentioned above, is partly a result of demand side factors of some commodities, is also explained by the fleet supply growth. Capesize and Panamax combined fleet has grown by 7.0% from the beginning of the year, as opposed to the Handy and Supramax combined fleet growth which has risen approximately by 3.5%.
Poor freight market conditions and lack of interest on vintage second hand tonnage by further trading Buyers continue to push more units to be “beached”, despite the fact that prices have fallen substantially the last two months. This is good news for the industry as scrapping activity is necessary to continue unabated in order to be able to expect a recovery in the future. However, as we have mentioned before, this is not enough as a sharp and protracted slowdown in the pace of new buildings is also a vital and significant condition for an eventual recovery" Olziersky noted.
He added that "on the sale and purchase front, activity remains subdued in view of the poor charter market conditions, despite that prices are still falling. Opportunities on the second hand market are usually coming from Japanese owners who are genuine Sellers and disposing their units at the best obtainable prices. Additionally, other opportunities, in terms of price only, are coming from Chinese shipyards which are disposing their ppt resales for 20% less than a comparable vessel which has been built either in S. Korea or in Japan. Of course this disparity is linked to building quality, specification and consumption and is something which needs to be seriously taken into consideration prior to proceeding with such units.
In general, the present market conditions and short term prospects are negative, however during these adverse times opportunities can be found around the corner; prudent and well placed decisions may lead to oncoming successful investments; after all shipping is not a simple and temporary investment for "easy money", it’s a long term investment which need time and patient in order to gain it's returns and benefits!" he concluded in the report.
In a report last week, DVB Bank mentioned that the BDI’s average during 2011 was 1,529 points, which in turn was 44% below the 2010 average of 2,758 points. So far in 2012, the average is below 950 points and is indicative of the dire position that the market has found itself, as oversupply has “drowned” freight rates. DVB sees a sustained downward trend, stating that even delays caused by port delays and congestions and an increase in demand for dry bulk commodities, haven’t been enough to help absorb the new tonnage which is entering the market at a frenetic pace.
It’s worth noting that so far this year a total of of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet. As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- The State Trading Corporation of India Ltd
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- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
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- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
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- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
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- Billiton Holdings Pty Ltd - Australia
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- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
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- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
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