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.
|
|
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
|
|
|
Showing 5706 to 5710 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
|
| |
| |
|
