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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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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
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