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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
|
|
|
Showing 4776 to 4780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
