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.
|
|
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
|
|
|
Showing 4756 to 4760 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
