We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the last 26 years of 662 points on February 2nd. Smaller vessel categories, supramax and panamax, are moving higher due to strong fixture activity in both the Atlantic and Pacific basins with capesizes being still under serious pain from hefty overtonnage and fragile Chinese iron ore import market sentiment. Overall, all vessel indices ended in green, apart from capesizes, with supramax and handysize units experiencing the sharpest gain, near to 9% in contrast with a 6.7% rise in the panamax and 6.6% fall in the capesize segment.
The first quarter of the year is about to end with capesize average time charter earnings falling below $5,000/day, while supramax vessels are earning more than $10,000/day and panamax are trading at almost the same levels with handysizes, more than $8,000/day. The BDI seems that will break the psyclological barrier of 1,000 points in the second quarter of the year as it regains strength from the firm demand for coal, grain and minor bulk cargoes. In terms of coal demand, the prospects are overwhelming for Chinese demand as China imported approximately 20.55 million tons of coal in February, 850,000 tons (4%) more than imported in January and an amazing 204% increase from February 2011 levels.
Capesize vessels seem that will suffer for a longer period of time as Chinese inventories remain hefty, despite their fall to 99,4 million tons, 500,000 tons less than a week ago. In addition, China’s government announcement for an economic growth of less than 8% in 2012 pours more uncertainty in the already volatile iron ore market for the massive buying power of the world’s largest iron ore consumer. BHP Billiton is predicting that the growth of seaborne iron trade will amount to little more than 4.4% over the course of this decade, nearly half the 8.4% growth figure achieved between 2000 and 2010.
One positive sign is that China’s daily crude steel output stood at 1,898 million tones for the first ten days of March, surging 13% from the preceding period, according to data from the China Iron & Steel Association. Steel demand has started to pick up in the world’s top consumer during March amid a gradual recovery in construction activity, but buyers remain wary about a slowdown in economic growth, which may continue to weigh on the steel sector. “Steel demand is warming up as more construction projects resume, but it is still weaker than the corresponding period of last year,” said a steel trader in Beijing.
Fears for the negative impact of last week’s tropical cyclone on the capesize segment have gone as shipping operations at the major Australia’s Port Hedland have now resumed. However, capesize vessels lost more ground this week with average time charter earrings falling to the lowest levels for over a year. The BCI has lost 97 points on a weekly basis by standing at 1,369 points, 6.6% down from previous week’s closing with vessels trading at levels of $$4,546/day, when last year were earning more than $10,000/day. Capesize spot rates on Australia to China have dropped to $7.45 per tonne, which shows a return of about $1,500/day for 180,000 dwt tons capesize vessel.
In the panamax segment, South American grain demand remains the key driver force, with BPI posting a 6.7% rise by gaining 65 points more than previous week and vessel earnings moving to more than $8,000/day. But, panamax earnings are still far below than last year’s levels, when there were more than $16,000/day, as they are facing the same headache with capesize vessels, the pain of oversupply.
Supramax and handysize units are on the spotlight as being the star performers from March 2nd by showing continuous weekly increases. The BSI ended at 1035 points last Friday, showing a 39% rise from the beginning of March with vessels earning more than $10,000/day, 35% lower than last year’s levels. The BHSI ended at 551 points, 26% up from the beginning of March with vessels earning more than $8,000/day, 29% less than last year.
Amid the volatile Chinese iron ore import market sentiment and the negative forecasts for a slow Chinese economic growth, Australia expects to produce record tonnages of iron ore through much of the decade, nearly all of which will be used to manufacture steel in demand. Australia iron ore exports are estimated to increase by more than 50 percent by 2016/17 compared with last year. Government data release anticipates still strong demand from Chinese steel mills, the biggest buyers. Exports will rise by an annual rate of around 11 percent to reach 767 m million tonnes in 2016/17, the Bureau of Resources and Energy Economics (BREE) predicted.
Rio Tinto, the world’s second largest iron ore producer, said that it plans to boost the output from its mines in Australia western Pilbara to 283 million tonnes per year by the second half of 2013, up from the current 225 million tonnes. David Joyce, managing director of expansion projects, said that although the rate of GDP growth in China is slowing, they remain confident on the basis of the figures that they have seen for a solid growth this year. A positive development for the fate of capesize operators is that Chinese steel demand has started to pick up amid a gradual recovery in construction activity.
Although the negative sentiment that currently persists in Chinese iron ore market, with worries for a long last recession in the world’s largest consumer country, big miners are betting on a soft landing for the world’s second biggest economy. It is believed that China’s import demand would continue to grow over the next several years, albeit at a slower pace, which should be enough reason for commodity producers to continue their expansion plans. “Nobody is saying that demand growth in China for iron ore is going to go away, just that growth rates will not be as high as they were,” said Mike Young, managing director of BC Iron, which relies on sales to China for all its revenue. Furthermore, recent investigations by Raw Materials Group revealed that global iron ore demand is set to double to around 3.5 billion tones per year by 2030, with Chinese appetite for the commodity continuing to drive the market, albeit at a slower pace than during the last decade.
Source: Maria Bertzeletou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
|
|
|
Showing 4711 to 4715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
|
| |
| |
|
