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.
|
|
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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 ...
|
|
|
Showing 4781 to 4785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- The University of Queensland
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Australian Coal Association
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
