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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
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Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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Showing 4816 to 4820 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- MS Steel International - UAE
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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