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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
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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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Showing 5701 to 5705 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
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