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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, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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