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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 bound to keep the market a bit on the lull side. Still, the industry’s benchmark, the BDI (Baltic Dry Index) was up by 9 points on Monday to 1,013 points, further establishing its position above the “psychological” mark of the 1,000 points. The biggest leader of the new rise was the Capesize market, with the Capesize Index up by 14 points, to 1,204. Small gains were also evident in both the Panamax and the Supramax segments, with the Handysize market remaining stable versus the Friday’s closing.
In a report last week, DVB Bank mentioned that the BDI’s average during 2011 was 1,529 points, which in turn was 44% below the 2010 average of 2,758 points. So far in 2012, the average is below 950 points and is indicative of the dire position that the market has found itself, as oversupply has “drowned” freight rates. DVB sees a sustained downward trend, stating that even delays caused by port delays and congestions and an increase in demand for dry bulk commodities, haven’t been enough to help absorb the new tonnage which is entering the market at a frenetic pace.
It’s worth noting that so far this year a total of of 529 vessels, representing 44.4 million dwt have already been delivered. Another 1,148 vessels of 93.5 million dwt are scheduled for delivery until the end of 2012. This is about 58% of the current orderbook, which stands at 2,001 vessels of 161.3 million dwt, which in turns represents about 25.8% of the current fleet. As a result, asset values as well as earnings are not expected to recover anytime soon. DVB stated that "we may see the markets bottom by the end of 2013 and remain flat thereafter. However, this is subject to owners not indulging in more newbuilding contracting if they see a seasonal spike in freight rates".
According to the research report, the fleet of dry bulk carriers now stands at 9,251 vessels with a total carrying capacity of 625.5 million dwt. The average age of the fleet is about 11 years and 61.8% of the fleet is less than 10 years of age. In addition, the average age of vessels less than 10 years of age is merely 3.1 years – an extremely young fleet. In dwt terms, Large Capes constitute the largest portion of current fleet while Panamax size vessels have the largest orderbook. The ULBC size range (280K+ dwt) is expanding rapidly and mainly consists of the 400k+ Vale vessels. Thus far, 11 of these behemoths have delivered. In its report, DVB mentioned that "these massive 400K+ dwt vessels will have a negative impact on asset values as well as freight rates not only for this Sub-Sector but for all smaller Sub-Sectors (VLBC, Large Capes and Small Capes) as well. Each of these Valemax vessels can replace about 2.3 three Large Capes from the market, all other things being equal" it mentioned.
In a separate note, Commodore Research & Consultancy noted that the latest Tropical Storm Doksuri, was expected to make landfall near Hong Kong and should bring even more torrential rainfall in southern China. “Southern China (which is where the majority of China's hydropower is produced) has recently received a very large amount of rain. Last week, the vast majority of southern China received at least 85 millimeters of rain, with some areas receiving as much as of 150mm. This was an extremely large amount. In comparison, all of China received an average rainfall of 68.5mm of rain in May. Chinese hydropower production is poised to continue to rise, which will put added pressure on Chinese thermal coal demand. Chinese demand for imported thermal coal cargoes has remained low and is poised to stay low for the next several weeks. Chinese hydropower production totaled 66.5 billion kilowatt hours in May, which was 22.7 billion kwh (52%) more than produced in April and 15.1 billion kwh (29%) more than produced in May 2011. For June, we expect hydropower production will end up totaling between 70 to 80 billion kwh. In July, hydropower production stands a good chance of setting a new record. The current record is 82.7 billion kwh produced in July 2010.
Going forward, Chinese thermal coal demand is poised to stay low in the near term due to the ongoing surge in Chinese hydropower production (and also due to the robust amount of coal that remains stocked at Chinese ports and power plants)” concluded Commodore Research & Consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
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 ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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