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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, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
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