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.
|
|
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
|
|
|
Showing 4746 to 4750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
|
| |
| |
|
