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