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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
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