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.
|
|
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
|
|
|
Showing 4611 to 4615 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Australian Coal Association
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- VISA Power Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
|
| |
| |
|
