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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- PTC India Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
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