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.
|
|
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
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 c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
|
|
|
Showing 4821 to 4825 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
