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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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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
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