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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
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