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.
|
|
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
|
|
|
Showing 5676 to 5680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
|
| |
| |
|
