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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
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
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