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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchmark, the Baltic Dry Index (BDI) didn’t manage to change, remaining stable compared to last week’s closing at 928 points. The slight increase of demand and rates for the larger dry bulk carriers was once again offset by falls in the smaller ship types, in a reversal of the pattern observed a few weeks ago, when it was the smaller dry bulk carriers which were leading the gains and the larger ones suffering losses.
Yesterday, the Capesize Index was up by 24 points to 1,531 points, followed by marginal gains of four points for the Panamax market. By contrast, the Supramaxes kept their falling trend, losing an additional 13 points to 936 points, while Handies were also down by 7 points to 540 points.
In terms of sentiment, during the first week of the month, Chinese iron ore fixtures were increased by an impressive 53% week on week, based on data compiled from Wells Fargo Securities. It was the highest level since February of 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.
Meanwhile, as it was announced yesterday, China's imports of major commodities fell in March from a month ago, but defied expectations of large corrections to hover near recent highs, as companies built stocks in hopes the world's second-largest economy would pick up in the second quarter. Iron ore shipments were at 62.87 million tonnes, down just 3 percent from the 13-month high recorded in February. But analysts warned that stockpiles of copper and iron ore have already risen to lofty levels after months of feverish imports and China's appetite could ebb in the second quarter.
For China's commodities demand to stage a convincing rebound, Beijing must further loosen monetary policy and more crucially, relax a year-long clampdown on the property sector - a major driver of commodities consumption that made up 13 percent of gross domestic product in 2011. Traders and analysts reckon the government cannot afford to keep much longer property curbs that were choking off a crucial source of funds to local governments already swamped by loans.
In a separate note, issued here on Hellenic Shipping News Worldwide, from Maria Bertzeletou, stated that “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 prod ucts. 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.
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” noted Bertzeletou, in a sign that Brazil’s commodities’ exports aren’t looking all that rosy, quite the opposite. 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.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
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