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.
|
|
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
|
|
|
Showing 5741 to 5745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- White Energy Company Limited
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
|
| |
| |
|
