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, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
|
|
|
Showing 2771 to 2775 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- PTC India Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
|
| |
| |
|
