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.
|
|
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 ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
|
|
|
Showing 4786 to 4790 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Planning Commission, India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- PTC India Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
|
| |
| |
|
