We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply will eventually hit back.
Meanwhile, it reiterated its forecast on the Panamax and Supramax freight rates that are likely to stay put in the USD 13,000-17,000 per day interval. Handysize rates are expected to gain traction and return to the USD 9,000-13,000 per day interval.According to BIMCO’s analysis “despite the the supply-side pressure, we put our money on black and forecast that Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus we expect freight rates to stay sensitive to iron ore price developments but above USD 20,000 per day. A key observation from BIMCO is that we believe mining companies will prefer to sell this important steel production ingredient in larger volumes rather than higher prices, as long as China appears ready to purchase.
In order to deliver the support needed to keep rates elevated, Chinese iron ore imports will need a level of 61.2 million tonnes in both November and December, which in turn will bring the annual total import growth to +10% y-o-y. The supporting argument that must trump the negative impact from high stockpiles and slower steel production is the pricing game. China has built a firm reputation for playing the commodity markets well.
Looking beyond the Capesize fleet and into 2012, the smaller-in-size segments are going to experience a healthy slowdown in new deliveries. Right now, deliveries are estimated at 80 million DWT – equal to a fleet growth of 11.4%; a number that is likely to get slightly inflated by vessels that were set for December delivery but end up being January deliveries instead. A potential upside may also come from Russia, if they decide to impose a ban on grain exports to stop excessive outflow of the foodstuff. This will lead to longer hauls, as African and Middle Eastern importers will have to look for alternative sources potentially further away. Should they go to the most likely exporters, Australia or Argentina, the impact on the freight markets will be most significant” said BIMCO.
On the supply side, BIMCO’s Chief Shipping Analyst, Peter Sand said that the active fleet has grown by 12.9% so far in 2011, caused by delivery of 1,050 new vessels equal to 86 million DWT, offset by 20.9 million DWT being demolished. “We expect total demolition in 2011 to end at 23.5 million DWT as the activity is slowing down. Total inflow of tonnage in 2011 is going to hit 100 million DWT, surpassing 2010 inflow of new tonnage by as much as 20%. The fleet is about to grow by 14.5%, which is the highest level ever in net and gross terms.
By early December, 230 new Capesize vessels (+170,000 DWT) were delivered. That’s more than one new vessel every second day throughout the year. In total, BIMCO expects 245 new Capesizes will have been delivered in 2011 before New Year’s Eve. The projections for next year anticipates delivery of another 220 new Capesizes. Strong inflow of new tonnage and high amounts of recycled tonnage have brought the average age of the Capesize fleet down to 11.5 years from 13 at the start of the year. The level of new contracts dropped month by month as the year passed by. From close to 5 million DWT contracted in January, only 0.8 million DWT was contracted in October. This is a 29-months’ low level – an extremely positive development that bodes well for this segment of the industry, especially when seen in the perspective of the rise in freight rates during the past few months and owners not queuing up to place new orders” said Sand.
Just two months ago BIMCO released an analysis entitled: “Record recycling activity stirs optimism in dry bulk”. By that time, the potential of reaching 25 million DWT was within reach if high demolition rates were kept attractive to owners and rates did not improve significantly. Today, the “bull run” towards the recycling yards is over, demolition rates have come down in the Far East and Bangladesh has stopped taking in more new business. Meanwhile, average freight rates have stayed more or less unchanged, near year-high levels, making demolition activity cool down significantly.
On the demand side, BIMCO said that “while the workhorses in the Panamax and Supramax segments performed in line with the BIMCO forecast – hovering around USD 15,000 per day – Handysize vessels performed slightly worse than expected, tipping their toes just South of the USD 10,000 per day. On the very positive side, Capesize rates tackled the dip at end-October to see rates soaring again in November. The development is driven purely by vessels chartered to haul iron ore to China. Coming down from 28 chartered ships a week by mid-October, weekly activity dropped to 11 per week by the end of October, due to falling steel prices. However, activity rebounded strongly throughout November as iron ore prices fell rather significantly too to offset the negative impact from falling steel prices, according to Commodore Research. This development is mirrored perfectly in average time charter rates.
Export prospects for Russian wheat are still strong and building. This is evident from recent very strong sales following solid demand for vast volumes and competitively priced wheat, despite appreciation of the Rouble against other currencies. However, there are concerns arising in the wake of the success that Russia will impose grain export restrictions should total grain exports reach 24 million tons. In an attempt to export before restrictions are imposed, traders and producers are shipping a lot of output to ports, creating railway jams. Ironically, these jams lowered the pace of exports in October.
The Panamax and Supramax rates in the Atlantic basin have found only little support in the wheat and grains coming into the market via the US Gulf. Rates have come off over the past months, but should firm slowly as demand for thermal coal picks up as we head into the Winter in the northern hemisphere.
Overall demand in 2011 is likely to end at 6% y-o-y, while demand growth in 2012 is looking a bit softer at 4% y-o-y” concluded BIMCO.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
|
|
|
Showing 4921 to 4925 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
|
| |
| |
|
