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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, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
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