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.
|
|
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
|
|
|
Showing 4401 to 4405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
