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.
|
|
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
|
|
|
Showing 5781 to 5785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
|
| |
| |
|
