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