We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
 In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry Index) jump to 1,619 points, or a mssive 5.34% on the day. As a result, the index which covers major commodities routes managed to post a significant gain during the second half of August, ending a more than two-month overall slump to almost 1,200 points.
This latest rise was attributed to a surge in interest for the larger Capesize vessels, while all other ship types were stuck in the red yesterday. Capesizes were higher by an impressive 11.36% on the day, with the relative Baltic Capesize Index inching forward to 2,598 points. On the downside, Panamaxes were down by 0.49% on the day, with the BPI (Baltic Panamax Index) ending the day down to 1,628 points.
Referring on the Capesize market, the latest weekly report from shipbroker Fearnley’s said that “the sun is shining again, after a short dip from interesting levels. Increased spot cargo volumes across the board resulting in a dramatic 15% improvement in average earnings in one day, bringing market back to levels not seen since early winter. All routes expected to rise further, as strong support is also seen from derivatives. Period activity about to catch up, exemplified by 176000 dwt/blt2010 delivering China mid Sept for 11-13 months at usd 14k, also 171000 dwt/blt 2003 fetching usd 14k with China delivery early September” said Fearnley’s.
On the Panamax front it said that “from the market upswing last week, the Panamax market took a breather with holidays both Monday and Tuesday this week. Especially the Pacific market rallied last week with a good number of Indonesian coal cargoes. It seemed like many charterers entered the market at the same time to cover before their holidays this week. The softening experienced this week is not dramatic, but it is slowly sliding downwards in both hemispheres. Some good rates are still achieved with TA´s being fixed in region of usd 14-15k and the fronthauls getting fixed in the low 20´s. In the Pacific the rounds are now being fixed at around USD 11-11,500 daily. Some activity in the short period market is in the 13k range, and there are takers for longer periods like 1 or 2 years” concluded the shipbroker.
Accroding to a recent report from BIMCO’s shipping analyst Peter Sand, the active dry bulk fleet has grown by 7.4% so far in 2011, caused by delivery of 52.5 million DWT, offset by as much as 14.8 million DWT being demolished. As the new building delivery pace stays strong with demolition trying to keep up the fleet is estimated to grow a tad slower at 12.9%. The inflow of new orders during first half of 2011 is down 67% as compared to same period last year. This has influenced the orderbook to fleet ratio positively alongside the massive deliveries. It currently stands at 42% – down from 79% – but still a very high overall figure with 241 million DWT in the pipeline. 79% was recorded in October 2008. “There is still extensive slippage in the orderbook going forward.
BIMCO estimates that one out of every three vessels is postponed for a variety of reasons. The demolition pace continues to stay strong – never before has so much tonnage been demolished. The average size of a vessel going for demolition is 72,647 DWT, meaning that the big ships are now leaving were scrapping smaller ships with an average size of just 38,640 DWT. In 2011, 49% of the demolishing vessels are the large Panamax and Capesize bulk carriers as compared to 15% in 2009” said Sand.
BIMCO predicts that another 450 newbuild dry bulk vessels with an average size of 84,000 DWT will enter the fleet during the remaining part of the year. While some 76 vessels with an average size of 72,500 DWT will be demolished. Commenting on the market’s outlook, BIMCO’s senior shipping analyst said that “on the basis of that supply outlook in a combination with a slower than previously expected demand outlook, BIMCO expects that the market balance will continue to be strongly in favour of charterers, with low freight rates across the board. As the global economy is still walking in the shadows of the financial crisis, demand growth remains on a short leash. Together with the massive inflow of new tonnage, the freight market will spoil charterers for choice for at least another couple of years.
BIMCO will focus specially on the opportunities provided by the demolition market in a soon to be released analysis. You have to be able to endure lots of pain if you are amongst those who are about taking delivery of a newbuild Capesize vessel. Regardless of whether you paid USD 105 million for her back in July 2008 or USD 55 million last January, you have the option of chartering her out for half a year at USD 12,500 per day for 5 years at USD 16,000 per day or to try your luck on the spot market. Either way, you’re facing a poor return on your investment in the coming years unless cargo volumes increase dramatically. 213 Capes entered the fleet in 2010, another 250 is going to be added this year.BIMCO expects to see a depressed freight market in the coming months. Summer has been slow, so freight rates are likely to bottom out now but only a little upside is visible for owners. The Capesize Time Charter Average is likely to stay around USD 12,000-16,000 per day, Panamax and Supramax rates are likely to stay firm in the USD 13,000-17,000 per day. Handysize rates are expected in the USD 9,000-13,000 per day interval” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
|
|
|
Showing 5136 to 5140 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
|
| |
| |
|
