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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, 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 ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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Showing 4826 to 4830 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
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