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.
|
|
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
|
|
|
Showing 2761 to 2765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
|
| |
| |
|
