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.
|
|
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
|
|
|
Showing 4671 to 4675 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- The University of Queensland
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
|
| |
| |
|
