We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of scrapping activity, as observed during the course of 2011. According to the latest BIMCO report on 2012, a large part of this increase in demand could come from India and its coal needs. The report said that "the year 2011 had barely started before a series of unforeseen events took place across the globe. Most of them affected dry bulk shipping negatively and the large Capesize vessels were particularly under pressure. Amongst the events were the flooding in Australia and South Africa, the triple disaster in Japan and the “Arab Spring” that also affected the supply of oil into Europe.
Half a year down the road, during which many Capesize vessels had earned less than any other dry bulk vessel size, the unexpected happened again. Strong demand for iron ore and coal from China and the recovering Japan, sourced from Brazil and Australia, ignited freight rates for Capesize vessels. A tight tonnage situation in the Atlantic basin combined with increased congestion in loading and discharging ports pushed average rates above USD 30,000 per day.
A far cry from the peaks of the super cycle, but surely an indication of the peak levels we have in sight for the near- to mid-term future as the supply side remains a considerable burden for the industry. The demand side is set to be relatively stable in 2012 although it’s likely to grow somewhat slower than in 2011 – at least in volume terms. Overall iron ore demand is likely to slow. Still, a lower world market price as compared to the domestic costs of mining it within China holds the key to provide positive demand shocks for this valuable steel ingredient. Growing demand for thermal coal from large Asian consumers is said to be a steady demand driver" said BIMCO.
In a separate research report on the outlook of the dry bulk industry, DVB Bank said that the current dry bulk fleet now stands at 8,877 vessels (585.1mio dwt). The average age of the fleet is about 12 years and 59.1% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years old is merely 2.8 years – a very young fleet. Similarly, the orderbook stands at 2,371 vessels (196.3mio dwt) which equates to 33.6% of the current fleet. In dwt terms, large Capes constitute the largest portion of the current fleet while Panamax size vessels have the largest Orderbook. ULBC size range is expanding substantially. So far, three of the 34 Vale ULBCs of 400K+ dwt have delivered.DVB Bank said in its analysis that if the remaining 31 vessels actually deliver, this will have a huge negative impact on all large Cape asset values as well as T/C rates and impact earnings of other Sub-Sectors as well.
Looking at deliveries, a total of 366 vessels of 28.3 million dwt are still headed towards delivery, according to figures up to November of 2011. These vessels represent 14.4% of the orderbook. Given that for the most part these weren't expected to be delivered within 2011, the researcher said that they will be rolled over to 2012. So, it draws the conclusion that "even Even with 40% delays due to slippage, postponement and cancellation, we are poised to cross the 100mio dwt mark this year. In 2012, some 1,431 vessels (121.6mio dwt) are scheduled for delivery, which is about 62% of the current orderbook" said DVB Bank.
In total the dry bulk cargo demand is forecast to rise to approximatly 3.7 billion tons this year. But, as DVB states, the level of the orderbook is too much for it to be absorbed without problems and downward pressure both on ship values and freight rates. "Although scrapping picked up in 2011 to 21.4mio dwt (334 vessels) as of November, this figure is merely 3.5% of the existing fleet" said DVB Bank. It concluded that the vessels which were ordered at the peak of the market back in 2007-2008 should add to distressed asset sales, as their owners won't be able to repay them without huge losses. In essence, the researcher said that the current slowdown will see many ship owners out of the market and bankrupt, due to cash flow problems, as at the moment, they don't have the necessary cash reserves to survive the downturn, like they did back in 2008.
BIMCO's advice towards dry bulk ship owners they should expect the unexpected, as has been the lesson learned. "Maybe even India will begin to influence the market as a significant importer. This would fulfil the prophecy and release a vast potential that has been simmering for a very long time and provide a much-needed second major demand driver. Supplementing China as the dominant factor in the market would create a more sustainable freight market going forward. However, this will not happen in just one year; moreover it appears destined to remain a long and dusty road for several years to come. An optimist would surely name India as the best thing that could happen to the dry bulk shipping industry. In the meantime volatile iron ore exports and strong demand for thermal coal is likely to characterise India’s contribution to the dry bulk markets" concluded the organization.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
|
|
|
Showing 3256 to 3260 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
|
| |
| |
|
