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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
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- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
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- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Latin American Coal - Colombia
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- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
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