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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, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- PTC India Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- The University of Queensland
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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