We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
 The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yesterday fell for the 20th consecutive day, now standing at 2,515 points, which is the longest negative series since April of 2009.
It’s also the lowest point of the market since early October last year. This time around, the fall has impacted almost all ship types, with the capesize market once again finding itself earning lower daily rates than the smaller in size panamax segment. Daily rates for capesizes are now at $24,064, with the trend predicted even lower. By contrast, some dynamics evolved in the panamax market, with the Baltic’s Panamax Index rising by 45 points yesterday to 3,062 (versus 2,698 of the Capesize Index).
According to Commodore’s weekly report, “chartering activity was subdued as Chinese players were away from the market celebrating the three-day Dragon Boat Festival which began on Monday. Market sentiment has remained negative due to the growing fear of an approaching slowdown in Chinese real estate construction; this fear has intensified as Chinese steel mills have announced temporary cuts in steel output in order to reverse falling prices. Spot iron ore demand, however, remained firm throughout last week. 23 vessels were reportedly fixed to export iron ore, only 2 less than the previous week. In addition, overall spot chartering activity increased at the end the week after Chinese players returned from the holiday”.
Commenting on the capesize market in its latest report, shipbroker Fearnley’s said that these are challenging times for the biggest ships as spot demand presently not
matching flow of early units. “The Atlantic is struggling in particular, as fronthaul cargoes for July dates are few and far between. Ballasters from FEast are plentiful, and consequently the Tubarao/Qingdao conference trade has fallen by usd 3.50 pmt/usd 14k per day to present usd 37k. The W.Aust/China trade is on a similar track, with daily earnings for Pacific rounds cut by more than 30% to come in at below usd 20k. Although no sign of recovery is evident, numerous major players are considering present levels temporary and thus willing cough up upto almost 50% hire premiums for tonnage willing short period” the report said.
ICAP forecast the main index would reach 2,441 points in the third quarter and 2,677 in the first quarter of 2011. As quoted by Reuters, Georgi Slavov, head of dry freight research at ICAP Shipping said: "we remain bearish especially on the capes for the next month or two. After that, I do expect again a revival of activity". He also said that while the pace of fleet growth was likely to keep pressure on capesizes, the outlook for panamaxes and handysizes was better due to expectations for slower fleet growth.
"We may see for a prolonged period of time later on this year and especially next year capes trading below panamaxes," he said. "(Capesizes) will be under pressure."
Meanwhile, China, the biggest and most important powerhouse of the dry bulk shipping market is apparently using large amounts of domestic ore. The country produced 91.05 million tons of iron ore in May, an increase of 2.95 (3%) from 88.1mt produced in April. In the first five months of 2010, China has produced 383.2mt of ore, an increase of 90.74mt (31%) from 292.46mt of ore produced during the same period last year. Iron ore imports, however, have only increased by only 8% (China imported 262.24mt of iron ore in the first five months of 2010 and 241.93mt in the first five months of 2009). “A greater proportion of domestic iron ore has been used by steel mills this year to produce a record amount of steel. Chinese steel mills have produced 269.4mt of crude steel in the first five months of 2010, an increase of 52.36mt (24%) from the 217.04mt of crude steel produced in the first five months of 2009” Commodore noted.
Another factor weighing down of dry bulk rates is the fact that Indian iron ore exports remain under more pressure. India’s Supreme Court recently issued a restraint order restricting the Bellary Mines Company from mining iron ore in Andhra Pradesh, a state in southeast India. The company is suspected of transporting iron ore that has been mined illegally. India’s government has been consistently cracking down on illegal mining and railing of ore, as there has been widespread suspicion that government officials have been working with local mafia to transport illegal shipments of iron ore. Indian iron ore exports are under additional pressure due to monsoon rains limiting shipments. In the upcoming weeks, China will continue to source a large amount of ore from Australia and Brazil.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
|
|
|
Showing 5676 to 5680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
|
| |
| |
|
