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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
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