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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on December 5th, 2008 .The first day of February commenced with the BDI closing at 662 points, the lowest level that the market has seen in the last 26 years and ongoing fears for the operational profitability of dry bulk players for the year ahead. During the last week, the BDI showed an upward trend by gaining for four consecutive days more than 10 points, but it is still trading below the psychological barrier of 1,000 points mark. Overall, the BDI closed on Friday of February 10th at 715 points, up by 10.5% from last week’s closing, with the panamax size outperforming over other vessel categories. All vessel sizes apart from handysizes showed upward movements from the trading bottom lows that hit shipping operators during the last days of January. The BPI showed a remarkable 39.5% week-on-week increase in contrast with a 4.1% week-on-week fall in the BHSI.
For large size vessels, capesizes, conditions remain very weak with the market needing more cargo input to absorb the oversupply headache. The Baltic Capesize Index remained almost stable, up by 1% week-on-week, by gaining 21 points from previous week, by closing at 1457 points with activity in the Atlantic market being slow from very limited cargo demand, while interest from Brazil to China is scarce. The heavy weather in the ports of Australia and Brazil, the main iron ore producers, along with the Chinese ban on the entrance of Vale’s mega very large ore capes into Chinese ports have created more downward pressure in the already fragile market given the slow Chinese steel activity during Chinese New Year.
The panamax market seems to be the first one that has shown strong signs of recovery from the end of Chinese holidays with the sentiment being improved for Atlantic traders and a flurry of period activity from firm South American demand. The BPI closed at 967 points, up 274 points, recording a remarkable increase from previous week and showing healthier average time charter earnings. For supramax vessels, condition in the Atlantic market is still in the doldrums with some improvement reported in the Pacific market. The BSI showed a better performance than capesizes by moving 6% higher than previous week and hopes for a firmer rebound in the following days. The BHSI lost 16 points by recording a 4% week-on-week decline as it seems that the large percentage of overaged vessels in this category has started to stress the market significantly and more intense scrapping activity is needed.
Will the BDI continue its upward movement? Will capesizes find a firmer support? The iron ore demand and China’s economic activity are the two key factors for the revival of dry operators.
BHP Billiton, the world's no. 3 iron ore miner, said in Reuters that fundamentals for iron ore demand remain strong, with Chinese steel making expected to pick up following the lunar New Year and with Indian iron ore supplies lagging expectations. Furthermore, Anglo American’s Kumba Iron Ore CEO Chris Griffith said that global iron ore demand is likely to improve over the medium-to-long term. Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011. The JSE-listed miner held a positive view on the market from the second half of 2012. But over the first six months of 2012, the iron-ore market was expected to maintain its current market conditions. Zhu Hongreng, Chief Engineer of Ministry of industry and Information Technology of PRC, pointed out that China steel industry is to encounter tougher challenging in 2012 due to heightened unbalance between supply and demand arising from dwindling demand and further squeezed profit margin of domestic steel mills on rising iron ore prices.
However, the economic activity of China gives weak signs and brings some uncertainty regarding the Chinese import and export market sentiment. According to Custom’s Administration, China’s exports is estimated that dipped by 0.5% from a year earlier, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy. Imports fell by 15.3%, resulting in a trade surplus of $27.3bn (£17bn) which was a six-month high. Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth. A fall of over 15% in January cannot be entirely explained by the lunar calendar, and adds weight to the view that economic output is slower than headline indicators might suggest
The China Federation of Logistics and Purchasing reported that the import index for January fell to 46.9 from 49.3 in the previous month, showing slowing demand at home. Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.
Even the latest statistics data reveal a strong impact of the debt crisis on China’s trading activity; we will wait to see what the first quarter of the year will bring since January data usually give a distorted picture.
Source: Maria Bertzeletou, Hellenic Shipping
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Planning Commission, India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
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