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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Australian Coal Association
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- The University of Queensland
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
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