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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is bound to keep the market a bit on the lull side. Still, the industry’s benchmark, the BDI (Baltic Dry Index) was up by 9 points on Monday to 1,013 points, further establishing its position above the “psychological” mark of the 1,000 points. The biggest leader of the new rise was the Capesize market, with the Capesize Index up by 14 points, to 1,204. Small gains were also evident in both the Panamax and the Supramax segments, with the Handysize market remaining stable versus the Friday’s closing.
In a report last week, DVB Bank mentioned that the BDI’s average during 2011 was 1,529 points, which in turn was 44% below the 2010 average of 2,758 points. So far in 2012, the average is below 950 points and is indicative of the dire position that the market has found itself, as oversupply has “drowned” freight rates. DVB sees a sustained downward trend, stating that even delays caused by port delays and congestions and an increase in demand for dry bulk commodities, haven’t been enough to help absorb the new tonnage which is entering the market at a frenetic pace.
It’s worth noting that so far this year a total of of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet. As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
According to the research report, the fleet of dry bulk carriers now stands at 9,251 vessels with a total carrying capacity of 625.5 million dwt. The average age of the fleet is about 11 years and 61.8% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years of age is merely 3.1 years – an extremely young fleet. In dwt terms, Large Capes constitute the largest portion of current fleet while Panamax size vessels have the largest orderbook. The ULBC size range (280K+ dwt) is expanding rapidly and mainly consists of the 400k+ Vale vessels. Thus far, 11 of these behemoths have delivered. In its report, DVB mentioned that "these massive 400K+ dwt vessels will have a negative impact on asset values as well as freight rates not only for this Sub-Sector but for all smaller Sub-Sectors (VLBC, Large Capes and Small Capes) as well. Each of these Valemax vessels can replace about 2.3 three Large Capes from the market, all other things being equal" it mentioned.
In a separate note, Commodore Research & Consultancy noted that the latest Tropical Storm Doksuri, was expected to make landfall near Hong Kong and should bring even more torrential rainfall in southern China. “Southern China (which is where the majority of China's hydropower is produced) has recently received a very large amount of rain. Last week, the vast majority of southern China received at least 85 millimeters of rain, with some areas receiving as much as of 150mm. This was an extremely large amount. In comparison, all of China received an average rainfall of 68.5mm of rain in May. Chinese hydropower production is poised to continue to rise, which will put added pressure on Chinese thermal coal demand. Chinese demand for imported thermal coal cargoes has remained low and is poised to stay low for the next several weeks. Chinese hydropower production totaled 66.5 billion kilowatt hours in May, which was 22.7 billion kwh (52%) more than produced in April and 15.1 billion kwh (29%) more than produced in May 2011. For June, we expect hydropower production will end up totaling between 70 to 80 billion kwh. In July, hydropower production stands a good chance of setting a new record. The current record is 82.7 billion kwh produced in July 2010.
Going forward, Chinese thermal coal demand is poised to stay low in the near term due to the ongoing surge in Chinese hydropower production (and also due to the robust amount of coal that remains stocked at Chinese ports and power plants)” concluded Commodore Research & Consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Planning Commission, India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
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