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.
|
|
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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
