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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
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- The University of Queensland
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Thai Mozambique Logistica
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Planning Commission, India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
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