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Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, ending yesterday’s session up by 0.28% at 706 points. Still, it was the Panamax market’s dreadful state that prevented the market from recovering even more, as the respective BPI (Baltic Panamax Index) was down by 2.53%, offsetting the rest of the market. Capesizes were up by 0.75% yesterday to 1,471 points, while Supras and Handies were also trading on a higher note, ending the session with gains of 0.94% and 1.03% respectively.
In any case the market is hugely depressed as a result of tonnage oversupply. In a recent research note, Mr. George Lazaridis of shipbroker Intermodal noted that “in the beginning of 2011, we had around 1,447 vessels scheduled for delivery plus another 111 vessels which were originally scheduled for 2010 and had been delayed and rescheduled to be delivered in 2011. Of these, only 1,007 were eventually delivered, while 403 were rescheduled for a later delivery date and 148 were cancelled. In terms of the original orders, this is a cancellation rate of close to 10% and a slippage rate of more than 25%” said Mr. Lazaridis in an effort to shed some light on the dry bulk market’s most pressing issue.
He went on by stating that “for 2012 things look a lot grimmer, with over 1,714 vessels now scheduled for delivery this year of which 403 of these are vessels that were originally planned for a 2011 delivery. Taking a case where we would see similar percentage of cancellations and slippages, the total number of deliveries could still reach as high as 1,115 vessels. However, even this is likely to be too high of an estimate as we are facing a lot more problems in the market then we were a year back” Mr. Lazaridis said.
According to his note, “the charter market has deteriorated considerably compared to the levels seen during the same period last year. What is more, is that the charter market has been generally in trouble for some time now, which means that owners have more than once had to reach into their pocket in order to keep their vessels’ operations running smoothly. This means that many have been left with minimal excess cash and would look more favorably at the option of delaying their newbuilding orderbook and as such delaying the payment schedules as well. At the same time sourcing finance for shipping assets has only gotten worse, and it is expected that quite a significant portion of the orderbook has not managed to secure financial backing, in effect further decreasing the possibility that these vessels will be built. All in all we could end up seeing less than 60% of the scheduled deliveries actually hitting the water within this year, which although a still considerable number in terms of active fleet growth is still more manageable and would leave prospects of a quicker market recovery” concluded Intermodal’s analyst.
In another market analysis, CARE Research said that it expects the shipping volumes in the dry bulk segment to continue to remain driven by the Chinese demand for coal and iron-ore. In addition, the Japanese import demand for coal and iron ore for the nation’s re-building efforts post the natural disasters is expected to propel the dry bulk trading volumes. However, with the dry bulk vessel deliveries as a % of existing fleet expected to average 25.5% and 6.8% for CY12 & CY13, the additions to the already excess capacity of dry bulk fleet is expected to affect the freight rates. Correspondingly, CARE Research expects the BDI is to remain range-bound ranging from 1,500- 3,000 levels during CY12 & CY13.
Adding further to to the worsening situation of declining trading volumes and over-capacity of existing vessels, CARE Research expects the global fleet size to surge from 1,030.7 million GT as on December 31, 2011 to 1,200.8 million GT as on December 31, 2013 implying a CAGR of 7.9%. This in turn would affect the utilisation rates of vessels ultimately resulting in decline of freight rates. CARE Research expects the said growth in fleet size to be primarily driven by the orders in the dry bulk segment accounting for 35.5% of the total dry bulk fleet size as on November 30, 2011.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
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