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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
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