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.
|
|
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
|
|
|
Showing 4826 to 4830 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Australian Coal Association
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- The University of Queensland
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
|
| |
| |
|
