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.
|
|
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
|
|
|
Showing 36 to 40 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- PTC India Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
