We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
 If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as China’s slowdown is curbing freight rates. As such, the high level of demolition activity over the first half of the year, helped rates pick up during the third quarter. According to dry bulk ship owner Pacific Basin, Handysize and Handymax market spot rates averaged US$6,000 and US$8,340 per day net respectively in the third quarter of 2015. While only marginally up compared to the same period last year, these average market rates represent a 23% and 30% improvement on the previous quarter.
According to Pacific Basin’s analysis, “the quarter on quarter improvement was largely driven by healthier conditions in the Atlantic on strong South American agricultural exports. Atlantic spot market rates reached early 2014 levels and have since declined as the South American season subsides. By contrast, the Pacific freight market has been relatively flat, demonstrating only a moderate improvement through July which has since been reversed. Weak demand growth in the Pacific is largely due to the continued slowdown in Chinese coal and iron ore imports which together represent a large proportion of overall dry bulk trade”.
Detailing the demand side of things, the ship owner noted that “year-to-date coal imports are 30% down year on year while iron ore imports have been largely flat. Year-to-date Chinese imports of a basket of seven minor bulks are down 2% year on year due mainly to a weaker start to 2015. Minor bulk trade volumes since March were higher than in the same months in 2014 and have lent some support to demand for Handysize and Handymax ships. In particular, Chinese imports of bauxite increased year on year, and imports of soybeans and cereal grains are substantially up. Chinese steel exports have also increased”.
It continued by noting that “on the vessel supply side, the pace of newbuilding deliveries in 2015 has closely tracked 2014 when we saw the lowest rate of new ship additions in 15 years. The high level of scrapping in the first half of 2015 gave way to reduced scrapping in the third quarter due to the improved freight market. As a result, the overall dry bulk fleet expanded by 1.3% net during the quarter, having previously seen no net growth since the end of January. The overall dry bulk orderbook has reduced to about 17% of the trading fleet, but delays, cancellations, conversions and shipyard defaults – primarily in China – are leading to fewer actual deliveries than scheduled at the start of the year. The ship supply surplus built up in 2010-2012 and slowdown in Chinese raw materials imports – especially coal – continue to drive overall weakness, and we continue to manage the business for a weak market in the medium term”.
Pacific Basin also said that “secondhand values have been substantially flat in recent months. Benchmark five year old 32,000 dwt Handysize bulk carriers are currently valued by Clarksons Platou at US$13.0 million which is unchanged since May. Handysize newbuildings are valued at US$20.5 million and the significant gap between newbuilding and secondhand prices continues to discourage new ship ordering and favours buying secondhand ships”.
It concluded by noting that “this weakness will continue to affect shipping businesses and could result in more companies experiencing financial distress along the lines of Daiichi Chuo Kisen Kaisha’s recent filing for bankruptcy protection”.
In a separate report, BIMCO said that “when traditional demand growth is not increasing, we need to look harder for future growth. Here the glut of high-iron-content ore in the international markets and the following low prices may finally bring around a sizeable substitution in consumption by Chinese steel mills, away from the domestically produced low-iron-content ore, in favour of imports”. Calculations done by BIMCO show that monthly imports into China could be 20mt higher per month (+26%). A total of an extra 240 million tons on an annual basis could bring deployment for around 155 Capesizes, assuming an unchanged distribution between Australian and Brazilian imports (75%/25%). Last year, Australia grew its share significantly as 90% of Chinese incremental demand came from Australia. As Brazilian miner Vale is expecting to grow its output over the next year, this would improve the prospects. Working against would be more Brazilian ore transported on 400,000-DWT Valemax class ships operated by the miner itself or related parties”, BIMCO noted in its report.
As such, it concludes that “for the coming months: September-November, BIMCO expects the supply of new ships to stay subdued and slow paced towards the end of the year. The deteriorating demand-side conditions are expected to be somewhat reversed as we move into the stronger months of the year. The vital commodities, coal and iron ore, are both expected to be in higher demand in coming months, enhancing owners’ and operators’ opportunities to find employment for their ships. Altogether this should support the freight rates although no large-scale improvement to the fundamental balance is likely to develop”.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
|
|
|
Showing 2746 to 2750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
