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