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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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