We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straight session to 938 points, rising by 14 points. The rise was once again triggered by the smaller ship types, with the Panamax market rising by 16 points, or 1.5% to 1,081 points, with average daily earnings rising to $8,592. By contrast, the Capesize market was once again falling, with the relative index falling by 10 points to 1,138 points, as a result of tumbling iron ore demand. As a result average daily earnings dropping at just $3,377, a multi-year low.
In a relative note, analyst Commodore Research predicted a new fall of the market, which will most likely impact Panamaxes the most. Commodore mentioned that “it might be hard for some to believe, but at the start of the year capesize rates were averaging $23,991/day. Capesize rates quickly came under intense vessel supply-related pressure, however, and have remained below $10,000/day since January 12th. More recently, rates have come under additional pressure due to the ongoing lull in Chinese iron ore demand. While near-term prospects for capesize rates remain bleak - first and foremost due to the tremendous amount of capesize vessels that will remain available in the market - a strong case can be made that future prospects for panamax rates are considerably worse” said Commodore.
It concluded by mentioning that “for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. The 2013 panamax orderbook dwarfs the 2013 capesize orderbook as well. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesize vessels stands at roughly 90 vessels. In 2013, the panamax market is poised to become the most oversupplied of all of the dry bulk vessel classes. The 595 panamax vessels expected to be delivered by the end of 2013 represent a growth of approximately 28% on the current panamax fleet. The 235 capesize vessels expected to be delivered represent a growth of approximately 16% on the current capesize fleet. While the story for 2012 will likely remain the depressed capesize market, panamax rates are likely to feel great pain in 2013” said Commodore.
In an earlier note, BIMCO had noted that “the dry bulk market is under immense pressure, as the retreating weight of China as the driver of the market is extensively felt. At a time when supply growth simply breaks new mind-blowing delivery records, the demand situation is pitching in a bit too. Currently, there are reports of Chinese customers in the steel industry that are refusing to honour their contract as prices drop, and stock piles are fuller than normal at a time when steel mills take their foot off the throttle following a red-hot production period in recent months. Current fundamental demand/consumption is not strong enough to support such a high production level. As the world awaits the next anticipated Chinese stimulus package to lift demand, the dry bulk market is scouting for another saviour to get it through the day. Crude steel production in China surpassed 60 million tons a month in both March and April. The monthly average in 2011 was 57 million per month” said BIMCO.
It added that “the first five months average earnings of a Capesize bulker ended at USD 7,013 per day. This is down by 13% as compared to the same period last year that earned USD 8,060 per day. The time charter average has only been above USD 10,000 per day in the first 11 days of the year. The brief strengthening of freight rates in the midst of May unfortunately proved to be short-lived. As suggested two months ago, the downward overshooting of rates was corrected upwards with stronger rates during April and the first half of May, but as the optimism in the macroeconomic picture also began to fade, so did the freight market.
China imports more coal when the price gap between Chinese thermal coal (less a heat discount) and imported thermal coal is providing an arbitrage opportunity (including freight costs). When e.g. Australian or Indonesian coal prices become relatively cheaper, Chinese buyers are interested in importing more coal from Australia, which is good news for ship owners. In 2011 the price gap widened substantially, leading to hitherto unseen levels of thermal coal imports to China. If the price of Australian and Indonesian coal drops below the price of Chinese coal, as has been the case the last few months, we might see Chinese imports get back strongly when coal demand peaks in July. This could make 2012 imports surpass those record volumes of 2011” BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
|
|
|
Showing 4606 to 4610 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- The University of Queensland
|
| |
| |
|
