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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
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