We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. This represents a close-to-record level that is only challenged by the deliveries during Q1-2011 where 24.4 million were delivered says BIMCO in an analysis of the dry bulk market. “This development has prompted an upward adjustment to our supply growth forecast for 2012 that now reads 11.4% y-o-y. So far, the active fleet has grown by 2.9% in 2012 as 288 vessels have been delivered, offset by 6.9 million DWT being demolished. The growth in the Handysize segment included 63 vessels of 2.2 million DWT – making the sub-segment grow by 3.2% during the first quarter of 2012. Meanwhile, the Capesize fleet absorbed another 10.5 million DWT, causing the fleet to grow by 4.3% since 1 January.
On the contracting side, things have calmed down significantly. Since the beginning of 2011, newbuilding orders have been fewer and fewer. For seven months in a row, the monthly level of new orders has not exceeded 1.8 million DWT. In comparison, the monthly average of ordered tonnage during 2010 stood at 8.1 million DWT. The remaining order book stays biased towards the larger ships sizes, with the order book to active fleet ratios being the highest for Panamax (60,000-100,000 DWT) at 40.8% with the Capesize segment being runners-up at 32.2%. The corresponding ratios for Handysize and Handymax are 25.4% and 26.8%” said BIMCO in its research note.
Regarding freight rates, it noted that “Capesize Time Charter Average will remain under pressure but improve from current very low levels, although it will not exceed USD 12,000 per day. For the smaller segments, we forecast that the Panamax and Supramax freight rates are likely to get closer to each other and improve, but remain in the USD 8,000-13,000 per day interval. Handysize rates should improve and head up, staying in the interval of USD 8,000-11,000 per day interval” it said.
Demand-wise, BIMCO stated that “there is no doubt that it takes time from when commodities are bought and transportation fixed and executed to the cargo being landed at the buyer’s desired port of discharge. There’s also no doubt that buying activity for staple cargoes such as coal and iron ore was hectic during the final months of 2011. If import figures continue to stay elevated and market conditions for bulkers stay weak, we can only conclude that the oversupply glut is apparently more severe and even heavier than we expected. Weather-related disruptions could not steal the picture from the overall devastating development in dry bulk freight rates that began in the first half of December 2011 and went all the way to early February before the bleeding was stopped. Since then, we have not seen any significant rebound, but rates have firmed slowly. This was in line with our forecast made in the previous report” says the report.
BIMCO further attempted to explain why rates came down that sharply in the first couple of months. “By looking at the import figures for main commodities such as iron ore and coal into China, you will find little indication that demand has died down, but March figures may present a more complete picture. Some commodities have certainly seen a drop in demand.
In the past three months (December-February) China imported 197 million tons of iron ore – up by 12% y-o-y – and 54.8 million tons of coal, up by 36%. This special market condition was a Capesize event only. As the dawn broke on 2012, the overcapacity menace returned with a vengeance, bringing not only Capesize rates to the floor but also Panamax, Supramax and Handysize rates at the same time.
When following the recent development in freight rates it is now crystal clear that the January touch-down was a sticky one. Currently, Capesize rates are still trapped in the shadows of USD 5,000 per day. The Capesize vessels that used to rule the development of freight rates have lost their position. For long periods during 2011 – and again in 2012 – rates were significantly below any other ship size. The fundamental imbalance is taking its toll. On the contrary, Supramax rates have now moved up to USD 10,000 per day, a level sufficient to cover daily running costs. This is sadly not the case for the Capesize segment generally right now. Looking back a little bit on recent history, the overall picture is similar in pattern for the various dry bulk segments, but different in levels. The limited total fleet growth in 2009 was partly due to extensive recycling of tonnage (10.1 million DWT), partly due to the rather limited introduction of new tonnage, a picture that changed completely in 2010 with the first deliveries of an exorbitant ordering spree. Despite a rather healthy demand picture during recent years, it remains a sizeable challenge to the freight markets to absorb so much tonnage. This has once again been carved in stone during the first quarter of 2012 and by seeing the very high segment growth rates for Capesize and Handymax in particular, the latter has been able to weather the storm in much calmer waters due to its more flexible nature in ports, cargoes and grab-fittings” concluded BIMCO.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
|
|
|
Showing 76 to 80 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- ICICI Bank Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
|
| |
| |
|
