We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straight session to 938 points, rising by 14 points. The rise was once again triggered by the smaller ship types, with the Panamax market rising by 16 points, or 1.5% to 1,081 points, with average daily earnings rising to $8,592. By contrast, the Capesize market was once again falling, with the relative index falling by 10 points to 1,138 points, as a result of tumbling iron ore demand. As a result average daily earnings dropping at just $3,377, a multi-year low.
In a relative note, analyst Commodore Research predicted a new fall of the market, which will most likely impact Panamaxes the most. Commodore mentioned that “it might be hard for some to believe, but at the start of the year capesize rates were averaging $23,991/day. Capesize rates quickly came under intense vessel supply-related pressure, however, and have remained below $10,000/day since January 12th. More recently, rates have come under additional pressure due to the ongoing lull in Chinese iron ore demand. While near-term prospects for capesize rates remain bleak - first and foremost due to the tremendous amount of capesize vessels that will remain available in the market - a strong case can be made that future prospects for panamax rates are considerably worse” said Commodore.
It concluded by mentioning that “for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. The 2013 panamax orderbook dwarfs the 2013 capesize orderbook as well. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesize vessels stands at roughly 90 vessels. In 2013, the panamax market is poised to become the most oversupplied of all of the dry bulk vessel classes. The 595 panamax vessels expected to be delivered by the end of 2013 represent a growth of approximately 28% on the current panamax fleet. The 235 capesize vessels expected to be delivered represent a growth of approximately 16% on the current capesize fleet. While the story for 2012 will likely remain the depressed capesize market, panamax rates are likely to feel great pain in 2013” said Commodore.
In an earlier note, BIMCO had noted that “the dry bulk market is under immense pressure, as the retreating weight of China as the driver of the market is extensively felt. At a time when supply growth simply breaks new mind-blowing delivery records, the demand situation is pitching in a bit too. Currently, there are reports of Chinese customers in the steel industry that are refusing to honour their contract as prices drop, and stock piles are fuller than normal at a time when steel mills take their foot off the throttle following a red-hot production period in recent months. Current fundamental demand/consumption is not strong enough to support such a high production level. As the world awaits the next anticipated Chinese stimulus package to lift demand, the dry bulk market is scouting for another saviour to get it through the day. Crude steel production in China surpassed 60 million tons a month in both March and April. The monthly average in 2011 was 57 million per month” said BIMCO.
It added that “the first five months average earnings of a Capesize bulker ended at USD 7,013 per day. This is down by 13% as compared to the same period last year that earned USD 8,060 per day. The time charter average has only been above USD 10,000 per day in the first 11 days of the year. The brief strengthening of freight rates in the midst of May unfortunately proved to be short-lived. As suggested two months ago, the downward overshooting of rates was corrected upwards with stronger rates during April and the first half of May, but as the optimism in the macroeconomic picture also began to fade, so did the freight market.
China imports more coal when the price gap between Chinese thermal coal (less a heat discount) and imported thermal coal is providing an arbitrage opportunity (including freight costs). When e.g. Australian or Indonesian coal prices become relatively cheaper, Chinese buyers are interested in importing more coal from Australia, which is good news for ship owners. In 2011 the price gap widened substantially, leading to hitherto unseen levels of thermal coal imports to China. If the price of Australian and Indonesian coal drops below the price of Chinese coal, as has been the case the last few months, we might see Chinese imports get back strongly when coal demand peaks in July. This could make 2012 imports surpass those record volumes of 2011” BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
|
|
|
Showing 1 to 5 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
|
| |
| |
|
1 