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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Australian Coal Association
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
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