We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with average time charter earnings rising to more than $6,000/day, while supramax units seem to loose their strength. The dry market sentiment is still so fragile with the BDI posting a decline on a weekly basis, following consecutive weekly inclines from the first days of February.
The levels of the BDI seen last year, above 1,000 points, seem to be far from reachable although the gap from breaking the psychological barrier is near to be bridged. The capesize segment remains in unprofitable territory affecting negatively the overall performance of the index. However, capesize vessels showed this week the strongest performance with the BCI recording a 6.7% week-on-week increase in contrast with a 7.8% decline in the supramax segment. From the end of March, supramax vessels appear to loose their solid performance that posted during the month with average time charter earnings falling below $10,000/day.
The index closed on Thursday April 5th, at 928 points, down by 0.6% from last week’s closing and down by 34% from a similar week closing in 2011, when it was 1,401 points. The BCI surpassed the 1,500 points by closing at 1507 points, with vessels’ average time charter earnings floating at $6,200/day, 20% up on a weekly basis, but $2,100/day less than handysize earnings. The BCI has shown the highest weekly increase of 6.7% from the beginning of the year, and now remains to be seen if the sentiment will continue to be tough, in the upcoming weeks, with China’s position in the iron ore market playing the important role of capesizes’ performance.
The first week of April began with some positive signs for the dry market sentiment. Chinese iron ore fixtures increased by 53% w-o-w during the first days of April, according to Wells Fargo Securities, the highest level since February 2011 with an upward direction in the average time charter earnings of capesize units. Chinese iron ore inventories are falling giving signs for a stronger support in capesize earnings, while supramax average time charter earnings are still hovering more than 37% above capesizes.
A positive sentiment is being fuelled in the iron market with Australian miner Fortescue, following the strong position of its rivals, stating that despite talks of slowdown, China’s economy is expanding at a relatively healthy pace, supporting demand for raw materials such as iron ore and steel for infrastructure development and consumer products.
In the panamax market, there is still grain activity from South America moving cargoes to the Continent and Mediterranean, but rates are floating at steady levels with vessels earning $8,277/day, down by 1.3% week on week. The BPI ended at 1036 points, falling by 15 points from previous week, when at the week ending March 16th has recorded the biggest gains by moving upwards 82 points, 9.2% increase.
Even the positive prospects for smaller vessel sizes, supramax vessels have shown, during the last two weeks, a weaker performance with the BSI loosing this week 81 points, by falling to 949 points with vessels trading at $9,928/day, when last year they were floating at $15,345/day, up by 55% from the current levels and 83% higher than capesizes. However, strong signs for Chinese thermal coal activity, the large decline in Qinhuangdao coal stockpiles, the upcoming maintenance of the Daqin railway and seasonal restocking for peak summer demand will affect positively the supramax rates. One short term negative factor for the segment could be the announcement from BHP Billiton declaring that it can not meet its coal delivery obligations because of a strike by 3,000 workers at seven coal operations in Queensland and wet weather, which may cause a further downward sentiment in the supramax market.
In the handysize segment, vessels’ earnings are recording the smallest volatility by hovering at similar levels with panamaxes, $8,305/day, down by 3.1%, when last year were earning around $11,700/day. The BHSI closed at 547 points, down by 18 points (3.2%), when last week recorded the biggest value of 566 points.
The outperformance of the capesize segment among other vessel categories brings a positive feeling with no guarantees for its stability, since there is undoubted that China’s iron market sentiment for this year will pour biggest risk for capesize operators amid oversupply issues. One recent worrying sign is that Brazilian iron ore conglomerate, Vale, has decided to move in the idling of two of its very large ore carriers and delaying the delivery for two valemaxes from China Rongsheng Heavy Industries, due the slowdown of Asian demand. According to data compiled from Bloomberg, Brazil’s first quarter ore exports plunged 27% from the previous three months to the lowest level, since June 2009, as rains and flooding in January delayed production.
In February, iron ore production in Brazil dropped by 24% in February, as per the latest data released by the country's iron ore producer's association. Brazil's mining companies exported 16.61 million metric tons of iron ore and pellets in February, down by more than 24% decline from 21,89 million metric tones exported during February 2011.
Vale and MMX, two leading Brazilian iron ore miners, stated that the cause of reduced production was the heavier than usual rains in the Minas Gerais region in January, while the market is waiting strongest indications of Chinese interest. Traders are waiting to see a strong pick up in Chinese steel demand that could set an increased demand for iron ore and higher vessel shipments resulting in a solid performance of the freight markets. Market belief is that the second quarter of the year will be more encouraging than the first three months with a firmer Chinese iron ore appetite, but the uncertainty is high from capesize average time charter earnings being still depressed at levels below break even.
Source: Maria Bertzeletou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
|
|
|
Showing 4766 to 4770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
