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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
|
|
|
Showing 41 to 45 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
