We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk carriers. As a result, the BDI (Baltic Dry Index), the industry’s benchmark, ended yesterday up by 0.64% to 787 points. Indeed, it was the smaller ship types which kept the market upwards yesterday, versus their larger counterparts which seemed to suffer from thinner demand. The Handysize segment rose by 1.36% according to the Baltic Exchange, while the Supramax one was the main gainer, with a daily increase of 2.6%. by contrast, the Capesize market was down by 0.46% to 1,516 points, while Panamaxes were also trading lower by 0.23% to 852 points.
Still, things are far from well, given the recent emergence of another negative catalyst factor for the future growth of freight rates, especially in the Capesize markets. More specifically, according to the China Iron Ore & Steel Association (CISA), China is aiming to improve its self efficiency in iron ore and continue to consolidate the steel industry in a bid to raise the output of its major steel makers by 10% within the next four years. The government expects the country’s top 10 steel manufacturers to account for 60% of the country’s steel output by 2015, Wang Xiaoqi, CISA vice chairman, said at a recent trade conference held in Beijing.
Meanwhile, according to BIMCO, dry bulk rates are set to remain suppressed during the next few weeks. Capesize Time Charter Average will remain under pressure and stay below $12,000 per day as tonnage oversupply has hit back at a time where demand is taking a small breather. Meanwhile, the report also forecasted that Panamax and Supramax freight rates are likely to develop rather flat and stay in the USD 7,000-13,000 per day interval. Handysize rates are expected to remain close to the operating break-even freight rate level at USD 6,000-8,000 per day interval.
According to BIMCO, “opportunities in the time charter market are gone for now and only the spot market remains in focus. As demand has dozed off, there is a return of pressure from the tonnage oversupply that must go away before rates will be supported by returning demand. Provided that iron ore spot prices will stay competitive/attractive as compared to the domestically mined ore within China, this should support demand, regardless of the level of stockpiles at Chinese ports and a stagnating steel price. But the lift will come in weeks rather than days.
One of the main events during 2012 will be the 19 Vale-connected +400,000 DWT VLOCs that are due for delivery. They come on top of the 5 VLOCs delivered in 2011 and another 125 new Capesize vessels that are going to be delivered in 2012. The “low” level of new Capesize deliveries comes after two mammoth years where 213 (2010) and 248 (2011) were launched and the easing inflow could be further potentially buoyed by another 60 Capesizes being demolished, assuming the 2011-standards for scrap-matured vessels are applied. Even with the extensive focus the VLOC’s have received, in the context of the sheer amount of VLOC-tonnage as a share of the total Capesize fleet, 5% remains minor.
The only seasonal factor that could support rates during the first quarter is thermal coal for heating in the northern hemisphere winter, including China. But pulling in the opposite direction is the structural overcapacity and the seasonal winter rains in Brazil and South Africa and cyclones on the west coast of Australia that delivered a significant blow to freight rates last January as massive amounts of cargo were cut off” said BIMCO in its analysis.
The organization’s Chief Shipping Analyst, Peter Sand also mentioned, that in terms of supply, «the biggest positive surprise of 2011 was the 22.2 million DWT of demolished tonnage. Of this, 67 were Capesize vessels sold for recycling primarily during the terrible first six months. Characteristics of the average Capesize vessel that left the fleet: 156,845 DWT, 27 years of age, recycled in Bangladesh at USD 509 per Ldt., leaving USD 11.5 million for the owner from taking the vessel out of active trading.
During 2011, an average of 8 million DWT was delivered into the market every single month. This was an unprecedentedly high number – something we hopefully won’t see again before the fleet is twice as big as today in 2034. If January deliveries are to give any indication into 2012, a level of little more than 6 million is relatively positive, as the pace is coming down from 2010-11. However, it’s still a historically very high level.
So far, the active fleet has grown by 1.0% in 2012, caused by delivery of 79 new vessels of 6.4 million DWT, offset by 1.6 million DWT being demolished. BIMCO expects total demolition in 2012 to come down from the 22.1 million DWT that was demolished during 2011 but to stay high, as freight rates are bound to keep pressure on earnings, pushing more over-aged tonnage over the edge. Total inflow of tonnage in 2012 is estimated to hit 78 million DWT, counterbalanced by higher than previously expected demolition of 19 million DWT.
Following the upward adjustment of the demolition potential the dry bulk fleet holds for 2012, the fleet is now set to grow a bit slower at 10% during 2012. As 2011 only saw 26 million DWT being contracted, which was the lowest level since 2002, BIMCO expects 2012 to provide more of the same on that front. Overcapacity bites – and whatever cash reserves are left from before the financial crisis broke in 2008 or leftovers from the surprisingly well 2010 is not expected to be spent on new build first installments. Not even the elevated Capesize earnings that we experienced during the 4th quarter of 2011 made owners call the shipyards to place new orders” stated Sand in his analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
|
|
|
Showing 4751 to 4755 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Carbofer General Trading SA - India
|
| |
| |
|
