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, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
|
|
|
Showing 5771 to 5775 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
|
| |
| |
|
