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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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Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
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