We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were higher, with the Panamax Index gaining the most at 1,145 points, while the Capesize one was also on a high. The only exception was the Handysize market, which retreated by four points yesterday. Still, the index is more than 30% lower than the start of the year, with capesize average spot charter earnings showing a fall of more than 80% by reaching levels of $3,988/day, from about $24,000/day at the beginning of the year. On mid June, capesize average spot earnings fell at their lowest point since December 2008, of less than $3,500/day, with panamax vessels showing softness at levels of less than $8,000/day from more than $13,000/day at the beginning of May.
In recent comments, Golden Destiny’s analysts noted that “during the first days of July, BDI continues its upward trend with capesize average spot earnings surpassing the barrier of $5,000/day and panamax earnings climbing to more than $8,000/day. Smaller vessel categories, supramax and handysize units are showing firmness at levels of more than $13,000/day and $10,000/day respectively. The positive performance of smaller vessel categories has been supported by increased movement of grains and a number of minor bulk cargoes, while the fragile Chinese iron ore and coal demand impaired the demand for capesize and panamax tonnage. Chinese demand for imported iron ore cargo posed weakness in June due to a tremendous decline in steel production and a large amount of iron ore stockpiled at Chinese ports, despite the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year” they said.
Still, as Maria Bertzeletou noted in the latest weekly report from Golden Destiny, the prospects for the second half of the year aren’t yet promising in all for the dry bulk market. “Chinese steel production has not yet recovered, port stockpiles are elevated, above 96 million tons of iron ore and 8.7 million tons of coal, while Chinese iron ore demand is expected to show not significant strength in the coming weeks. Chinese demand for imported thermal coal is also poised to remain low on the short term, as power plant and coal stockpiles remain high and hydropower production continues to be on rise. However, peak summer electricity demand season is underway in China and a rebound in thermal coal fixture volume is likely for the second half of the year with stronger panamax earnings. Top grade iron ore price shows sings of weakness with the benchmark 62% iron ore content price falling to $135/tonne as Chinese steelmakers have reduced their purchases from declining steel production that has hit the iron ore supply chain” she said.
She also added that “despite the recent negative picture of capesize ton mille demand, there is still faith in the segment as Chinese government’s stimulus measures in the industrial sector may bring firmer iron ore demand, but it seems difficult the capesize average spot earning to surpass the levels of $10,000/day as they are struggling to perform in the current vessel’s supply figures, when in December of 2011, they were floating at levels near to $30,000/day. Under the current fundamentals, shipping players prefer to move towards the scrapping of overaged large sized vessels, capesizes and panamaxes, with secondhand investments being on the frontline as more preferable type of investment than the construction of new units.
Secondhand asset prices have plunged from the first half of 2011, especially in the large sized vessel segments, capesize and panamax, with the BDI triggering further falls during the second half of the year. According to the Baltic Exchange’s Sale and Purchase Assessments, the value of a 5yrs old capesize of 172,000dwt has dropped to about $33,4mil from $42,9 at the end of June 2011, while at end of June 2008 was more than $153mil. In the panamax market, the value of a 5yrs old vessel of 74,000dwt is now at near $23mil, from $30,8 at the end of June 2011, while at the end of June 2008 was more than $88mil. In the supramax segment, the value of 5yrs old vessel of 52,000dwt is now in the region of $22mil from $27,5mil at the end of June 2011, while at the end of June 2008 was at more than $75mil” she concluded.
Still, for the time being Capesizes are currently earning $7,904/day, an increase of $3,916/day from a week ago, while panamaxes are earning $9,002/day, an increase of $1,167/day. At similar week in 2011, capesizes were earning $13,995/day, while panamaxes were earning $13,471/day. Supramaxes are trading at $13,556/day, up by $411day from last week’s closing, 72% and 51% higher than capesize and panamax earnings respectively. At similar week in 2011, supramaxes were getting $13,443/day, hovering at 3.9% lower levels than capesizes versus 72% today’s higher levels. Handysizes are trading at $ 10,309/day; down $105/day from last week, when at similar week in 2011 were earning $10,422/day.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
|
|
|
Showing 4661 to 4665 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
|
| |
| |
|
