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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, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Energy Development Corp, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
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