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Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that even China in its best of years, wouldn’t be able to keep up with the current supply dynamics. In fact, analysts have mentioned that it would take for a couple of more “Chinas” nowadays, in order for demand to catch up with the current fleet of dry bulk carriers. As of the start of the year, the global outstanding orderbook for dry bulk vessels stood at 2,375 ships, with a potential carrying capacity of approximately 200 million dwt tons. According to the latest weekly report from shipbroker Intermodal, out of the alarmingly large total of these orders, 1,677 ships of 139 million dwt were scheduled to be delivered during 2012. Under this scenario approximately 70% of the bulker orderbook was scheduled to be delivered during 2012.
With 7 months already gone by and as of 1st of Aug 2012, it is interesting to see the progress. According to Intermodal’s John Cotzias, “the active bulker fleet stands at 8,477 ships and 645mil tons of carrying capacity. During 2012 the active bulker fleet has grown by 6% in ships and 8% in total dwt. VLOC’s in 2012 have grown by 17%, Capesize 4%, Post Panamax 14%, Panamax 6%, Supramax 12%, Handymax reduced by -5% while Handysize increased by only 2%.
At the same time, Newbuilding bulker deliveries are holding strong with around 4 new ships being delivered every day (809 ships of 70mil tons dwt)!! It is worth noting that slippage (expected deliveries less actual deliveries ) was calculated at abt. 15% for the 1st Half of 2012 while it is accelerating after June, giving us a present figure of around 17%. There were 1,677 ships deliveries originally scheduled for 2012, so we could assume that if the current trend continued, there would be 1,390 ships delivered in 2012. However as the slippage rate increases and traditionally as we move towards Nov-Dec more ships are belated to take advantage of a later year of built, so we may expect that the total dry bulker deliveries for 2012 will reach a record high number of around 1,250 ships and abt. 108mil tons of extra dwt carrying capacity. Slippage therefore is estimated to reach around 23-25% for the current year” he said.
According to Intermodal, “looking into deliveries of specific bulker size segments in 2012, we have recorded 49 VLOC’s, 91 Capes, 73 Post Panamax, 168 Panamax, 226 Supramax, 13 Handymax and 189 Handysize being delivered. In 2013 the world bulker fleet will have a capacity of about 750mil tons and this is a reality that we all have to face…!” the report stated.
According to Mr. Cotzias, “there is just too much supply of tonnage that will only push further the gap between available ships for trading and available cargoes. Fleet growth for 2012 is estimated at 20%, and this increase can never be matched by seaborne dry cargo growth which may run at a mere 4-6% given best world economic conditions.
Scrapping has aided the bulker sector tremendously, as more than 21mil tons of dwt, abt 340 ships have been removed from the active fleet, this gives us around 1.6 dry bulker ships scrapped per day! Average age of the ships scrapped is now coming down to 21 years. Offered scrap prices looked rather attractive during first half of 2012 and that further assisted most owners in deciding to send more vessels to the breakers rather than seek buyers for further trading. According to our estimates abt. 500 ships of 30-31mil tons of dwt will be taken for demo during 2012 and this is approximately 6% of the active fleet. Let’s keep this scrapping going!” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Planning Commission, India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
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