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.
|
|
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
|
|
|
Showing 91 to 95 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Siam City Cement - Thailand
- White Energy Company Limited
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
|
| |
| |
|
