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Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could explain why some ship owners appear to be positioning themselves in the market, either with direct second hand tonnage purchasing or through new building orders. According to the latest report from shipbroker Intermodal, "on the dry side we are quite close to a more rational orderbook compared to the trading fleet. However, since the trading fleet has grown quite substantially over the past years, we believe 2013 will be another challenging year albeit, a good opportunity to make investments in shipping as prices have become quite attractive" it said.
Intermodal's analyst, Theodore Ntalakos noted that "the dry bulk orderbook today stands just over 1,500 vessels. Although close to 1,000 ships were delivered from shipyards in 2012 the final net growth of the dry fleet was “only” by 580 vessels. This represents a 7% increase of the fleet or 10% in terms of deadweight. Obviously the seaborne trade did not grow at the same pace. We expect the panamax/kamsarmax size to continue to be squeezed the most, since the largest percentage of the orderbook is scheduled to be delivered in 2013 bringing further good buying opportunities. On the supramax segment, the majority of vessels have been delivered, so we believe that the rates and prices are close to the bottom, hence their prices are more resilient than panamaxes", he concluded.
Meanwhile, "in the wet sector, the orderbook profile is much better. However, given that’s 2012 was yet another year of poor performance, it seems that we are still digesting the previously delivered tonnage. Obviously we are in much better position and may be closer to better days and hire rates, but with a much younger fleet. Purely from a supply side, we expect the suezmax sector to have the worst performance in 2013. However, if recovery in the wet sector comes before the awaited reduction in shipbuilding capacity and we see another spree of new orders, then the wet sector may double dip and then demolition will knock on the door of very young vessels" said the report.
Ntalakos concluded his analysis by noting that "for this broker the biggest dilemma is which sector one should chose for his investment. From which sector, size, age one should expect the better performance and healthier returns? Will try to address this in one of the next insights. Meanwhile, Gong Xi Fa Cai to all our Chinese friends and let’s see what the year of the Snake will bring us"?
Meanwhile, in the dry bulk market this week, according to shipbroker Fearnley's, "while the Panamax market is preparing for Chinese holidays next week it seems that many Chinese have already left the office for holidays. The Atlantic is weak with an oversupply of tonnage and little activity and we see voyage rates for transatlantic coal shipments are falling. TA rounds pay around USD 6-7k/day. The fronthaul market in ECSA has been more active this week, with many charterers aiming to cover positions before the holidays next week. But the list of ships ballasting towards ECSA is long as well. So the activity has not been able to make a positive impact on the rates. Going rate depends on the vessels eco speed performance, but the level is around 14k+400K del aps or around USD 7k if you take delivery in Singapore. The period market has been slow as well. Though we have seen a couple of short periods done in the Far East at around USD 7-7.5k daily" the shipbroker's report mentioned.
In the Capesize segment, it noted that "it´s been a more active week in the Pacific, with a good number of fixtures and rates for West Australia/China presently around USD 7.40. Saldanha/China is USD 13 and fronthaul is improving with rumours USD 18.50 been fixed for Tubarao/Qingdao, an improvement from last done at USD 17.80 earlier this week. The period activity is steady in terms of number of fixtures as well as a predictable level" Fearnley's concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Videocon Industries ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
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