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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
|
|
|
Showing 4786 to 4790 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- The University of Queensland
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
|
| |
| |
|
