We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
 If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as China’s slowdown is curbing freight rates. As such, the high level of demolition activity over the first half of the year, helped rates pick up during the third quarter. According to dry bulk ship owner Pacific Basin, Handysize and Handymax market spot rates averaged US$6,000 and US$8,340 per day net respectively in the third quarter of 2015. While only marginally up compared to the same period last year, these average market rates represent a 23% and 30% improvement on the previous quarter.
According to Pacific Basin’s analysis, “the quarter on quarter improvement was largely driven by healthier conditions in the Atlantic on strong South American agricultural exports. Atlantic spot market rates reached early 2014 levels and have since declined as the South American season subsides. By contrast, the Pacific freight market has been relatively flat, demonstrating only a moderate improvement through July which has since been reversed. Weak demand growth in the Pacific is largely due to the continued slowdown in Chinese coal and iron ore imports which together represent a large proportion of overall dry bulk trade”.
Detailing the demand side of things, the ship owner noted that “year-to-date coal imports are 30% down year on year while iron ore imports have been largely flat. Year-to-date Chinese imports of a basket of seven minor bulks are down 2% year on year due mainly to a weaker start to 2015. Minor bulk trade volumes since March were higher than in the same months in 2014 and have lent some support to demand for Handysize and Handymax ships. In particular, Chinese imports of bauxite increased year on year, and imports of soybeans and cereal grains are substantially up. Chinese steel exports have also increased”.
It continued by noting that “on the vessel supply side, the pace of newbuilding deliveries in 2015 has closely tracked 2014 when we saw the lowest rate of new ship additions in 15 years. The high level of scrapping in the first half of 2015 gave way to reduced scrapping in the third quarter due to the improved freight market. As a result, the overall dry bulk fleet expanded by 1.3% net during the quarter, having previously seen no net growth since the end of January. The overall dry bulk orderbook has reduced to about 17% of the trading fleet, but delays, cancellations, conversions and shipyard defaults – primarily in China – are leading to fewer actual deliveries than scheduled at the start of the year. The ship supply surplus built up in 2010-2012 and slowdown in Chinese raw materials imports – especially coal – continue to drive overall weakness, and we continue to manage the business for a weak market in the medium term”.
Pacific Basin also said that “secondhand values have been substantially flat in recent months. Benchmark five year old 32,000 dwt Handysize bulk carriers are currently valued by Clarksons Platou at US$13.0 million which is unchanged since May. Handysize newbuildings are valued at US$20.5 million and the significant gap between newbuilding and secondhand prices continues to discourage new ship ordering and favours buying secondhand ships”.
It concluded by noting that “this weakness will continue to affect shipping businesses and could result in more companies experiencing financial distress along the lines of Daiichi Chuo Kisen Kaisha’s recent filing for bankruptcy protection”.
In a separate report, BIMCO said that “when traditional demand growth is not increasing, we need to look harder for future growth. Here the glut of high-iron-content ore in the international markets and the following low prices may finally bring around a sizeable substitution in consumption by Chinese steel mills, away from the domestically produced low-iron-content ore, in favour of imports”. Calculations done by BIMCO show that monthly imports into China could be 20mt higher per month (+26%). A total of an extra 240 million tons on an annual basis could bring deployment for around 155 Capesizes, assuming an unchanged distribution between Australian and Brazilian imports (75%/25%). Last year, Australia grew its share significantly as 90% of Chinese incremental demand came from Australia. As Brazilian miner Vale is expecting to grow its output over the next year, this would improve the prospects. Working against would be more Brazilian ore transported on 400,000-DWT Valemax class ships operated by the miner itself or related parties”, BIMCO noted in its report.
As such, it concludes that “for the coming months: September-November, BIMCO expects the supply of new ships to stay subdued and slow paced towards the end of the year. The deteriorating demand-side conditions are expected to be somewhat reversed as we move into the stronger months of the year. The vital commodities, coal and iron ore, are both expected to be in higher demand in coming months, enhancing owners’ and operators’ opportunities to find employment for their ships. Altogether this should support the freight rates although no large-scale improvement to the fundamental balance is likely to develop”.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
|
|
|
Showing 2771 to 2775 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
|
| |
| |
|
