We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. This represents a close-to-record level that is only challenged by the deliveries during Q1-2011 where 24.4 million were delivered says BIMCO in an analysis of the dry bulk market. “This development has prompted an upward adjustment to our supply growth forecast for 2012 that now reads 11.4% y-o-y. So far, the active fleet has grown by 2.9% in 2012 as 288 vessels have been delivered, offset by 6.9 million DWT being demolished. The growth in the Handysize segment included 63 vessels of 2.2 million DWT – making the sub-segment grow by 3.2% during the first quarter of 2012. Meanwhile, the Capesize fleet absorbed another 10.5 million DWT, causing the fleet to grow by 4.3% since 1 January.
On the contracting side, things have calmed down significantly. Since the beginning of 2011, newbuilding orders have been fewer and fewer. For seven months in a row, the monthly level of new orders has not exceeded 1.8 million DWT. In comparison, the monthly average of ordered tonnage during 2010 stood at 8.1 million DWT. The remaining order book stays biased towards the larger ships sizes, with the order book to active fleet ratios being the highest for Panamax (60,000-100,000 DWT) at 40.8% with the Capesize segment being runners-up at 32.2%. The corresponding ratios for Handysize and Handymax are 25.4% and 26.8%” said BIMCO in its research note.
Regarding freight rates, it noted that “Capesize Time Charter Average will remain under pressure but improve from current very low levels, although it will not exceed USD 12,000 per day. For the smaller segments, we forecast that the Panamax and Supramax freight rates are likely to get closer to each other and improve, but remain in the USD 8,000-13,000 per day interval. Handysize rates should improve and head up, staying in the interval of USD 8,000-11,000 per day interval” it said.
Demand-wise, BIMCO stated that “there is no doubt that it takes time from when commodities are bought and transportation fixed and executed to the cargo being landed at the buyer’s desired port of discharge. There’s also no doubt that buying activity for staple cargoes such as coal and iron ore was hectic during the final months of 2011. If import figures continue to stay elevated and market conditions for bulkers stay weak, we can only conclude that the oversupply glut is apparently more severe and even heavier than we expected. Weather-related disruptions could not steal the picture from the overall devastating development in dry bulk freight rates that began in the first half of December 2011 and went all the way to early February before the bleeding was stopped. Since then, we have not seen any significant rebound, but rates have firmed slowly. This was in line with our forecast made in the previous report” says the report.
BIMCO further attempted to explain why rates came down that sharply in the first couple of months. “By looking at the import figures for main commodities such as iron ore and coal into China, you will find little indication that demand has died down, but March figures may present a more complete picture. Some commodities have certainly seen a drop in demand.
In the past three months (December-February) China imported 197 million tons of iron ore – up by 12% y-o-y – and 54.8 million tons of coal, up by 36%. This special market condition was a Capesize event only. As the dawn broke on 2012, the overcapacity menace returned with a vengeance, bringing not only Capesize rates to the floor but also Panamax, Supramax and Handysize rates at the same time.
When following the recent development in freight rates it is now crystal clear that the January touch-down was a sticky one. Currently, Capesize rates are still trapped in the shadows of USD 5,000 per day. The Capesize vessels that used to rule the development of freight rates have lost their position. For long periods during 2011 – and again in 2012 – rates were significantly below any other ship size. The fundamental imbalance is taking its toll. On the contrary, Supramax rates have now moved up to USD 10,000 per day, a level sufficient to cover daily running costs. This is sadly not the case for the Capesize segment generally right now. Looking back a little bit on recent history, the overall picture is similar in pattern for the various dry bulk segments, but different in levels. The limited total fleet growth in 2009 was partly due to extensive recycling of tonnage (10.1 million DWT), partly due to the rather limited introduction of new tonnage, a picture that changed completely in 2010 with the first deliveries of an exorbitant ordering spree. Despite a rather healthy demand picture during recent years, it remains a sizeable challenge to the freight markets to absorb so much tonnage. This has once again been carved in stone during the first quarter of 2012 and by seeing the very high segment growth rates for Capesize and Handymax in particular, the latter has been able to weather the storm in much calmer waters due to its more flexible nature in ports, cargoes and grab-fittings” concluded BIMCO.
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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
