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Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
 The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the capesize. The Baltic Exchange’s main index has shown an average weekly increase of 6.7% in March with constant gains for the last 16 days. It has moved near to 900 points by closing on Friday March 16th at 874 points, up by 6.07% on a weekly basis, and narrows the gap from the psychological barrier of 1,000 points. Capesize rates continue to be under pressure as spot fixture activity remains muted with average daily earnings standing below $5,500/day. The intense volatility in the iron market halts the solid performance of capesize vessels with panamaxes showing a firmer outlook on the back of a grain season in the Atlantic basin. Supramax vessels are outperforming among other vessel categories, from the beginning of March, with average daily earnings rising to more than $9,000/day.
Overall, all vessel categories experienced positive gains this week apart from capesizes with an euphoria in supramax and handysize vessels that leads the Baltic Dry Index at levels by 35% upwards from February 2nd, when it was at 648 points.
In the capesize segment, the BCI has lost another 37 points on a weekly basis by standing at 1,466 points, 2.46% down from previous week’s closing with vessel earnings below breakeven levels. Average time charter earnings for capesize vessels have fallen by 80% from the end of December 2011, when they were earning more than $27,000/day. An upcoming threat for capesize operators is the tropical cyclone Lua that is expected to cross the North West coast of Western Australia as a category four cyclone, disrupting mining operations and transport in the region.
Capesize spot rates on Australia to China are about $7.70 per tonne, down from about $7.90 per tonne last week, with capesizes halting their iron ore loadings at mining companies’ busiest ports. The Port Hedland iron ore terminal closed on Friday to escape the from Cyclone Lua, and miner Rio Tinto said operations were winding down at the two ports it uses, Dampier and Cape Lambert. The shutdown of Australia's major iron ore exporting port, Port Hedland, would be a negative factor for capesizes’ fixture activity and vessel earnings. Brazilian iron ore exports slumped 37% year on year in January as heavy rainfall disrupted production and demand in China eased.
In the panamax segment, a quiet Pacific market was rebalanced by modest improvements in cargoes from the Atlantic to Asia with vessel earnings moving to more than $7,700/day, but 50% lower from last year’s levels, when they were earning excess $16,000/day. The BPI closed on Friday at 971 points, up by 9.22% from last week with positive prospects for grain and thermal coal fixtures activity that will maintain the healthiest performance of smaller vessel segments against capesizes.
In the supramax market, vessels, which carry about 25 percent less than panamaxes, seem to have a better outlook in the heavy oversupplied dry bulk industry. Average time charter earnings for supramax vessels have shown a strong revival over the last three weeks with earnings more than $9,000/day, when at the end of January they were earning less than $7,000/day. Handysize units also follow with earnings more than $7,500/day, at similar levels with panamax earnings. The BSI closed at 951, up by 10.07% on a weekly basis, compared with a 9% and 8% rise in the panamax and handysize segment respectively.
The strong outlook of the supramax and handysize segment seems that will lift the BDI above the 1,000 points mark, but the outlook of dry bulk earnings is still negative as China cut its growth target last week. The fragile economic outlook of China signals an era of a weaker Chinese demand for iron ore, the world’s biggest buyer of the commodity and the main driver of the positive incline of the BDI.
Chinese iron ore inventories persist at hefty levels, near to 100 million tons, with iron ore import market sentiment showing signs of a slower growth at least till 2015. The government is aiming to boost the volume of imports to be sourced from Chinese invested mines abroad, by another 100m tonnes / year, to reduce the heavy reliance of the country on imports from Australia and Brazil. Moody’s Investors Service has warned that China’s growth in steel demand will slow sharply to 5.7% this year, almost half of the average 11.1% growth during the previous three years. Furthermore, the China Iron and Steel Association has halved its growth estimate for the steel industry from 8% last year to just 4% in 2012.
The dry bulk shipping industry is almost undeniable that will continue to be under serious strains for at least two years that will downsize the financial performance of dry bulk shipping players. According to Standard & Poor’s the dry bulk shipping sector will face the heaviest oversupply pressures over the next 12 to 18 months, compared with oil tanker and container market, and shipping firms will face tighter financing as banks cut their exposure to risky and dollar denominated assets.
Source: Maria Bertzeletou, Hellenic Shipping
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Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
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 ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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Showing 4811 to 4815 news of total 6871 |
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- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Australian Coal Association
- Independent Power Producers Association of India
- Economic Council, Georgia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- White Energy Company Limited
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
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