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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
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