We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for large sized vessels, capesizes floating below breakeven levels. The Baltic Dry Index records daily gains for eleven consecutive days, closing on Friday March 9th at 824 points, up by 6.8% on a weekly basis and up by 17% from February 23rd. All vessel categories experienced positive upturn apart from capesizes with supramaxes being the star performers of this week. The Baltic Supramax Index posted a 16% week-on-week increase in contrast with a 5% rise in the panamax and 7% in the handysize segment. Capesize vessel earnings remain downsized with industry players expecting a stronger Chinese steel production in March -April period and massive destocking of iron ore at major ports that will create more cargo loadings and lift earnings, at least near to $10,000/day.
The sentiment in China’s daily steel output has improved in February at 1,93 million tones, up from 1.83 million tons in January and 1.6827 million tons in December, as mills began ramping up operations ahead of a predicted recovery in demand in March and April. The figures of February are considerably higher than the estimates issued by China Iron and Steel Association, which calculated daily crude steel output at less than 1,7 million tones in February. Traders have said that recent destocking activity indicates further improvements in the market over the coming weeks. We may not see an immediate and rapid rise in steel output, but destocking is going on increasingly, so I am optimistic about steel prices because supply hasn't grown much”, said a trader based in Beijing. "Some new construction sites in northern Chinese regions have not started due to the cold snap, but once these new projects begin, it will provide a big lift for steel demand," he said, adding that he expected prices to keep rising until the end of April. China's industry ministry said China's crude steel output was expected to rise 7 percent to 730 million tons this year, after growing 8.9% last year. However, some steel mills have predicted that real demand could remain flat in 2012, and they warn of further losses over the course of the year as they try to overcome longstanding overcapacity issues.
Capesizes, which typically transport 150,000 ton cargoes of iron ore and coal, are currently earning $5,786/day, less than handysizes that earn more than $6,000 daily with the BCI loosing 22 points, down by 1.4% on a weekly basis and standing at 1503 points. Vale has completed its first VLOC transshipment of iron ore, which could drive more capesize tonnage requirements but the impact will be minor given the glut of ships. The long list of available ships for prompt employment continues to weigh heavily on the market with ships struggling to find cargo, especially in the Atlantic market. After a couple of weeks at $7.90, Rio Tinto shaved 10 cents off the rate for a March 21 onwards 160,000-tonne cargo from Dampier to China.
Panamax and supramax units continue to show stronger performance against capesize on the back of a firmer amount of global grain and coal fixtures activity. However, there are always exogenous threats on the prosperity with Indonesian National Shipowners Association, following China’s example, urging the government to pass the Domestic Transporter Obligation, which could mandate that 30% of all Indonesian coal shipments to be shipped on vessels owned by Indonesian shipping companies. According to Indonesian National Shipowners Association, foreign shipowners earned $14.4 billion in 2011 from exporting Indonesian coal with Indonesian shipowners wishing to receive a large share of this earned capital.
Panamaxes are currently earning $7,129/day with the BPI moving 45 points upward, 5.3% up on a weekly basis. The focus remains on east coast South America, with increased grain cargoes particularly for first half April sparking a rise in rates. A 1996-built 73,000 tonner agreed $15,750 daily plus a $575,000 bonus for the run east. Ships from the Continent and Mediterranean, as well as the Indian Ocean and south East Asia, eyed the South American market.
In the supramax market, vessels, which carry about 25 percent less than panamaxes, are the star performers during the first days of March by earning about $9,000/day with the BSI standing at 864 points, up by 16% on a weekly basis. However, supramaxes were getting more than $15,000/day last year, up by 77% from the current levels and 45% higher levels than capesizes. Rates in the Atlantic finally improved after the Far Eastern markets had been leading the way for quite some time. In the East, the south-east Asia mineral trades continued to absorb plenty of tonnage and the market consequently maintained a firming trend.
Handysize vessels, for three consecutive weeks have shown firmer returns with the BHSI standing at 469 points, a 7% week-on-week increase, and earnings rising to $7,106/day, but still 35% lower than last year’s levels.
The glut of new ship deliveries and the weak sentiment in China’s steel market are serious factors with a negative impact on the healthy performance of the capesize segment, which is the main driver lying behind the positive incline of the Baltic Dry Index, above the psychological barrier of 1,000 points mark.
China’s announcement to lower its 2012 growth target to 7.5% after 7 consecutive years darkens the outlook of dry bulk shipping industry with insiders expecting a prolong of the shipping crisis. Moody’s Investor Service said that the global shipping slump is expected to stay till 2013, while growing credit squeeze will challenge even the toughest shipping companies. Rio Tinto PLC's (RIO) iron ore chief executive, Sam Walsh, said that he expects China to remain a key driver of iron ore demand growth, despite recent signs for a slow growth in Chinese economy. China is "resilient," Walsh said, as it is equipped to underline its growth with fiscal and monetary changes and has increasing rates of household and corporate savings.
The country's crude steel consumption is forecasted to be around 1 billion metric tons by 2020, representing just under half of forecast world consumption, he noted. Rio Tinto is planning to invest $2 billion in Indian iron ore mining in Keonjhar district in the Indian federal state of Orissa. Mr. Walsh said that his company intends to raise production in Orissa to 15m tonnes per year “quickly” and at least some of the ore would be sold overseas, enabling shipowners to benefit from increased export demand.
The first quarter of 2012 is near to end and the trends seem to be negative for capesize with a sense of stability in the panamax and a firm growth of earnings in the supramax and handysize segment. The BDI is 18% lower than the 1,000 points mark and the solid performance of supramax vessels may boost the index at higher levels before the end of March.
Source: Maria Bertzeletou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
|
|
|
Showing 4721 to 4725 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- PTC India Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
