We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. This represents a close-to-record level that is only challenged by the deliveries during Q1-2011 where 24.4 million were delivered says BIMCO in an analysis of the dry bulk market. “This development has prompted an upward adjustment to our supply growth forecast for 2012 that now reads 11.4% y-o-y. So far, the active fleet has grown by 2.9% in 2012 as 288 vessels have been delivered, offset by 6.9 million DWT being demolished. The growth in the Handysize segment included 63 vessels of 2.2 million DWT – making the sub-segment grow by 3.2% during the first quarter of 2012. Meanwhile, the Capesize fleet absorbed another 10.5 million DWT, causing the fleet to grow by 4.3% since 1 January.
On the contracting side, things have calmed down significantly. Since the beginning of 2011, newbuilding orders have been fewer and fewer. For seven months in a row, the monthly level of new orders has not exceeded 1.8 million DWT. In comparison, the monthly average of ordered tonnage during 2010 stood at 8.1 million DWT. The remaining order book stays biased towards the larger ships sizes, with the order book to active fleet ratios being the highest for Panamax (60,000-100,000 DWT) at 40.8% with the Capesize segment being runners-up at 32.2%. The corresponding ratios for Handysize and Handymax are 25.4% and 26.8%” said BIMCO in its research note.
Regarding freight rates, it noted that “Capesize Time Charter Average will remain under pressure but improve from current very low levels, although it will not exceed USD 12,000 per day. For the smaller segments, we forecast that the Panamax and Supramax freight rates are likely to get closer to each other and improve, but remain in the USD 8,000-13,000 per day interval. Handysize rates should improve and head up, staying in the interval of USD 8,000-11,000 per day interval” it said.
Demand-wise, BIMCO stated that “there is no doubt that it takes time from when commodities are bought and transportation fixed and executed to the cargo being landed at the buyer’s desired port of discharge. There’s also no doubt that buying activity for staple cargoes such as coal and iron ore was hectic during the final months of 2011. If import figures continue to stay elevated and market conditions for bulkers stay weak, we can only conclude that the oversupply glut is apparently more severe and even heavier than we expected. Weather-related disruptions could not steal the picture from the overall devastating development in dry bulk freight rates that began in the first half of December 2011 and went all the way to early February before the bleeding was stopped. Since then, we have not seen any significant rebound, but rates have firmed slowly. This was in line with our forecast made in the previous report” says the report.
BIMCO further attempted to explain why rates came down that sharply in the first couple of months. “By looking at the import figures for main commodities such as iron ore and coal into China, you will find little indication that demand has died down, but March figures may present a more complete picture. Some commodities have certainly seen a drop in demand.
In the past three months (December-February) China imported 197 million tons of iron ore – up by 12% y-o-y – and 54.8 million tons of coal, up by 36%. This special market condition was a Capesize event only. As the dawn broke on 2012, the overcapacity menace returned with a vengeance, bringing not only Capesize rates to the floor but also Panamax, Supramax and Handysize rates at the same time.
When following the recent development in freight rates it is now crystal clear that the January touch-down was a sticky one. Currently, Capesize rates are still trapped in the shadows of USD 5,000 per day. The Capesize vessels that used to rule the development of freight rates have lost their position. For long periods during 2011 – and again in 2012 – rates were significantly below any other ship size. The fundamental imbalance is taking its toll. On the contrary, Supramax rates have now moved up to USD 10,000 per day, a level sufficient to cover daily running costs. This is sadly not the case for the Capesize segment generally right now. Looking back a little bit on recent history, the overall picture is similar in pattern for the various dry bulk segments, but different in levels. The limited total fleet growth in 2009 was partly due to extensive recycling of tonnage (10.1 million DWT), partly due to the rather limited introduction of new tonnage, a picture that changed completely in 2010 with the first deliveries of an exorbitant ordering spree. Despite a rather healthy demand picture during recent years, it remains a sizeable challenge to the freight markets to absorb so much tonnage. This has once again been carved in stone during the first quarter of 2012 and by seeing the very high segment growth rates for Capesize and Handymax in particular, the latter has been able to weather the storm in much calmer waters due to its more flexible nature in ports, cargoes and grab-fittings” concluded BIMCO.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
|
|
|
Showing 4731 to 4735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
|
| |
| |
|
