We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for the first time since late February. The BDI was up by 2.19% to 1,028 points, with Panamaxes leading the fray. The Baltic’s Panamax Index was up by a whopping 4.88% to 1,354 points. Other dry bulk carriers, like the Supramaxes and the Handies were also on higher ground yesterday, reaching 922 points (up by 1.85%) and 556 points (up by 1.09%) respectively. By contrast, the Capesize market was unchanged since the previous day.
As a result of these gains, average daily earnings for Panamaxes now stand at $10,835, while those for supramax and Handysize vessels are set to $10,374 and $8,399 respectively. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were at $6,627, on concerns of slowing demand in China.
In a quote to Reuters, Arctic Securities analyst Erik Nikolai Stavseth said that “despite capes being stuck in a rut, the BDI is showing positive tendencies. The lift has been especially helped by panamax/supramax which both are trading above $10,000 a day currently" he said. Similarly, RS Platou Markets analyst Frode Morkedal said that "the Capesize segment was still reeling under the weight of oversupplied markets and activity failing to pick up. Spot fixture activity has remained minimal as the iron ore majors were absent in both the Atlantic and the Pacific basins". Dry bulk freight rates are being pressured by growing ship supply, which is outpacing commodity demand. Analysts predict that further gains in the overall index are likely to be capped if capsize rates fail to improve in the near term, as gains in the smaller segments will be limited due a diminishing grain activity.
In a separate note, Jeffrey Landsberg from Commodore Research & Consultancy said that “another positive sign for Chinese economic growth has surfaced as Chinese steel production recently set another monthly record. According to the National Bureau of Statistics, Chinese steel mills produced a record 61.58 million tons of crude steel in March. This is 5.7mt (10%) more than produced in February and 2.18mt (4%) more than produced in March 2011. China's previous monthly crude steel production record was 60.25mt produced in May 2011.
As we discussed, we continue to believe that supporting economic growth is becoming more of a priority in China. Chinese banks issued approximately 1.01 trillion yuan ($160 billion) in loans in March, 300 billion yuan (42%) more than issued in February and 331 billion yuan (49%) more than issued in March 2011. March's 1.01 trillion yuan in loans far exceed the 738 billion yuan in loans issued in January. We continue to believe that the recent surge in lending is a another sign that growth will be supported and that new construction projects will soon take shape” concluded Landsberg.
Commenting on the Panamax market, shipbroker Fearnleys said in its weekly report that “a firmer tendency in both hemispheres, mainly driven by increased activity from ECSA grains. Fresh coal requirements from USG and Indonesia are adding fuel to the optimism for both ballasters and prompt positions. North Atlantic is tight for tonnage where Charterers now pay 10-11k to cover short rounds and 19-20k for trips out. The Pacific market is also gaining strength, to hover around 10k for NOPAC and 14k for India to China. Ballasters targeting ECSA grains are able to achieve above 12k passing Singapore. A more active period market with short period levels done above 11k/day and one-year at mid/upper 10. The forward curve following the trend but with less pace” said Fearnleys.
On the Capesize front, the shipbroker noted that “sentiment is again negative as spot volumes not by far living up to hopes/expectations. With plenty of coal stored in Continent ports, transatlantic trades are at a low and operators fall over each other at rock-bottom levels to keep their units within this geographical area. Consequent Colombian and US coal stems redirected to Asian destinations are not sufficient to maintain fronthaul levels, with a resultant marginal drop in the Tubarao/Qingdao trade to around USD 21 pmt. Far East volumes are similarly unimpressive, with WAust/China levels coming down again to around USD 7.75 pmt - equivalent to far below OPEX. Paper levels give little support for period fixing – and the majority of Capes done for 12 months recently seems to have been at discounted levels from distressed Far Eastern players” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 4786 to 4790 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
|
| |
| |
|
