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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Interocean Group of Companies - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
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