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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- White Energy Company Limited
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
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