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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
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