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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
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