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.
|
|
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
|
|
|
Showing 5746 to 5750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
|
| |
| |
|
