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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- The University of Queensland
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
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