We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which are leading the market. Instead, it’s the smaller ship types which are offering support to the market and are leading the industry’s benchmark, the BDI (Baltic Dry Index) to higher ground. Yesterday, the BDI was up by 0.57% to 879 points, led by the Panamax market, which rose by 1.96% to 990 points. It was closely followed by the Supramax segment, which saw an increase of 1.26% versus the previous session (963 points), while the Handysize market was also up by 1.18% to 513 points, after plunging to incredible lows.
Still, in a recent note, shipbroker RS Platou, warned that the recent cyclones which have struck the main iron ore shipping facilities of Australia, leading to a shutdown of the country’s leading iron ore exporting port, the Port of Headland, could be negative for fixture activity in the near term.
In any case, the BDI has been trading at near-record lows since the start of the year. the index fell by 44% during 2011, from an average of 2,761 points in 2010, to just 1,548 in 2011. In a recent report, Danish Ship Finance said that “the second half of 2011 saw a temporary spike in the index as Chinese steel producers stockpiled iron ore. In 2012, the Baltic Dry Index began the year with a sharp decline. By the end of February 2012, the daily observations of the index had fallen below 700. The monthly average stood at 703, down 40% year-on-year. Such levels have not been seen since late 2008 when the credit crisis was at its worst. By then, rates dropped because demand more or less evaporated overnight as the credit crisis took its toll on the world economy. Today, however, the low freight rates are mainly weighed down by a large supply of new dry bulk vessels” said the report.
In fact, during 2011, a total of 96 million dwt of new bulk carriers were added to the world’s fleet, while another 2 million dwt were converted from tankers to dry bulk vessels. In total 98 million dwt was added to the Dry Bulk fleet during 2011 (85 million dwt in 2010), an increase of 16% from 2010. The Capesize segment accounted for the largest share of delivered tonnage. 48% of delivered tonnage – or 248 vessels - were Capesizes, according to Danish Ship Finance. This, despite the fact that many owners “scrambled to either cancel or postpone their orders in 2011. In the orderbook as of April 2011 a total of 102 million dwt was still on order for delivery in 2011. By January 2012 a total of 14 million dwt of orders had been cancelled. Another 29 million dwt had had their scheduled delivery postponed into 2012 or beyond. Only 56 million dwt of the April 2011-orderbook scheduled for delivery in 2011 actually reached the oceans in 2011. That is a delivery performance of only 55% since April 2011” said the report.
Some relief was provided through the scrapping activity of older vessels, which took off during the past year, driven primarily by continuously low rates, shorter fixing periods and the incredible inflow of new tonnage. A total of 23 million dwt was scrapped during 2011 (7 million dwt in 2010). That is, 4% of the entire fleet was scrapped in 2011. Scrapping activity was the highest in the Capesize and Handysize segments with 5% and 7% of the respective fleets being scrapped.
“The remarkable levels of postponement and cancellations in combination with the record high scrapping activity helped to curb fleet growth despite the astonishing amount of new tonnage reaching the seas. The fleet grew 14% in 2011 (75 million dwt). That is down from 17% fleet growth in 2010 (78 million dwt), but still more than what was absorbed by demand growth during the same period. By end of December 2011, the total Dry Bulk fleet amounted to 611 million dwt – up by more than 50% since the eve of the financial crisis in 2008” said Danish Ship Finance, providing a clear explanation of the reason freight rates remain subdued since the beginning of the year.
The imbalance between supply and demand is pretty clear. According to Danish Ship Finance, “iron ore trade expanded 8% (99 million tonnes) in 2011 down from 11% growth (126 million tonnes) in 2010. With a total of 1,373 million tonnes of iron ore transported by sea in 2011, iron ore remains the largest seaborne commodity and the largest contributor to total seaborne trade growth in 2011. Growth was mainly driven by Chinese demand. China remains the single most important iron ore importer, accounting for 74% of the entire growth in the iron ore trade in 2011. The corresponding supply of iron ore to feed world demand was mainly driven by an 11% increase (37 million tonnes) in Brazilian iron ore exports followed by Australian exports which was up by 6% (26 million tonnes) in 2011.
Trade in coal and coke grew by 10% (92 million tonnes) in 2011 (fig. 6). This was slightly higher than the growth in 2010 (80 million tonnes) and mainly driven by demand from Asian countries. Particularly India has increased its imports of coal and coke. Indian imports rose by 25% (26 million tonnes) in 2011. But also Japanese imports of steam coal are up again following the devastating tsunami in early 2011. The added demand was mainly fed by an increase in supplies from Indonesia. Indonesian exports of coal and coke were up 14% in 2011 (37 million tonnes). Weather-related disruptions to Australian production of coal and coke in early 2011 meant that exports from Australia grew by a modest 4% (11 million tonnes) in 2011” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
|
|
|
Showing 4741 to 4745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- India Bulls Power Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- CNBM International Corporation - China
- Central Electricity Authority - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
|
| |
| |
|
