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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
|
|
|
Showing 4746 to 4750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- The University of Queensland
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
|
| |
| |
|
