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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, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Planning Commission, India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
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