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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
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