We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
 Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) gaining once again on Thursday, to reach 1942 points (up by 41 on a daily basis), or 2.16 percent. This was the 10th straight session of increases, despite the fact that most analysts appear rather pessimistic on the short-term prospects of the market. Another conclusion from yesterday’s market, was the continued rebounding trend of the capesize segment, with the respective Capesize Index gaining a further 85 points or 4.72 percent. As a result, average daily freight rates have edged higher than the $12,500 mark they had been in the past days, to $14,443.
This rebound has been triggered by a firmer iron ore demand and a restocking taking place in China, as a result of a better looking steel market. Shipbrokers estimate that currently low spot prices for iron ore, not to mention freight rates are causing more cargo purchases from steel mills, looking to take advantage of the situation. For the moment, nobody can rule out a double dip of the market, but it seems that for now, dry bulk ship owners are out in the clearing. Meanwhile, FBR Capital Markets said, in comments quoted by Reuters, that the fourth quarter of 2010 is likely to support a healthier iron ore trade, as contracts for the raw material are likely to more closely reflect spot prices in that period, rather than in the third quarter.
But, apart from cargo demand trade patterns and seasonality, the main concern of the market is the oversupply issues it faces, in terms of new tonnage delivered. According to ICAP Shipping, the dry bulk fleet expanded by some 340 ships amounting to 32 millon dwt in the first half of this year after allowing for the limited number of scrappings and other removals (some 46 ships of 1.6 million dwt). At the same time a large number of ships were contracted for future construction (346/31.2 million Dwt). This rapid expansion in the fleet - some 54 million dwt (+13%) over the past 12 months has been a primary factor in the decline in earnings since May this year which have slumped from typically $48,000 pd for a Cape to $16,000 now in July.
According to recent comments from Piraeus-based shipbroker Cotzias, “it seems that the overexcitement that led owners to order more dry cargo new buildings will only put more pressure on a market that had previously been alive but with what proved to be “mechanical and medical support”!!! The freight levels that were in excess of 30k per day, made everyone think that the newbuilding price for a Kamsarmax is value for money, and yes it could well be… but what will happen if the current dropping freight market continues at this pace for another 2 months? And 2 months with the excess volatility of the current markets seems like a long time, in which time, will the dry market face freight levels that will be adequate to cover the break even daily operating expenses including basic loan repayments? And what can be easily said to be the breakeven levels of these days, especially for ships that were acquired during 2008 and 2007? We are cautious to the extent that the headache of newbuilding orders has been cured by a regular daily feed of strong pain killers… One “blessing” was we believe the lesson we have all learnt from the container market that recently only started to push away from the “bottom” and the fact that over the past 1.5 years it has taught us that pricing at marginal cost is unsustainable, as vessels start getting laid up before long” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
|
|
|
Showing 5651 to 5655 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
|
| |
| |
|
