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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
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