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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
|
|
|
Showing 4761 to 4765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
|
| |
| |
|
