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.
|
|
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
|
|
|
Showing 4791 to 4795 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
|
| |
| |
|
