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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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Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
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