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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
|
|
|
Showing 5686 to 5690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- PTC India Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
|
| |
| |
|
