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.
|
|
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
|
|
|
Showing 5671 to 5675 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
|
| |
| |
|
