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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. iron ore, has kept on this week as well. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) continued its decline, losing an addition 9 points and ending the session down to 675 points. The biggest losses were evident in the Panamax segment which lost 30 points, reaching just 617 points (Baltic Panamax Index). By comparison, the smaller ship type of Supramax was down by 8 points in the respective Baltic Supramax Index, which stood at 837 points.
In its latest weekly report on the market, shipbroker Fearnley’s commented on the Capesize market that “a touch of A touch of optimism in the start of the week with good activity out of west Australia around the USD 7.20 level. However, ffa values were turning more negative as we approached mid-week and so did the activity. This obviously also affected short period marked, with bids just below USD 8, 000, with last done being 4-8 months USD 8,250” the shipbroker said.
On the Panamax front it added that “after last week’s continued bearish sentiment we were hoping for some glimmers of positiveness this week. This is not the case and the market in both hemispheres is continuing to drop like a rock. We see owners underbidding and waiting up to 6 days in order to even secure employment for their vessels. Some owners drop anchor waiting for cargos to come. For September loading there are very few cargos in the Atlantic and only a few forward cargos of grains are being quoted in the market. With the draught causing cargos to be cancelled, the horizon does not look very bright. TA´s now being fixed in region USD 2/3k while the fhauls are getting around USD 14k + BB. In the Pacific rounds are being fixed at around USD 4k while backhauls are giving negative return. The period market is almost none existing unless owners are able to offer very flexible periods and options” Fearnley’s noted.
In a separate report, Intermodal’s George Bassakos commented on the recent news that Vale reached an agreement to sell 10 large iron ore carriers (converted from tankers) for a total of $600 million to Polaris Shipping, of S. Korea. The world's second largest mining company, will take the vessels back on long-term charters. “With this sharp and unexpected move, Vale is freeing up capital while in the same time will continue to control flows of iron ore shipments. Vale's move comes at a time of extremely depressed market conditions, especially for the bigger ships, and seems to serve as a shield in current rough seas for Owners. China's denial to accept such mammoths in her ports being another reason for Vale to offload them” Intermodal said.
It added that “in other related news, iron ore prices returned their worst month since October 2011 in August, falling 24%, bringing the decline for the year to date to 36%, falling largely on the back of weakening demand for the steel-making ingredient from China, analysts say. Part of the problem at the moment is the high volume of stocks sitting in Chinese ports - a clear indication that steel demand growth has slowed considerably as mills turn cautious and refuse to hold inventory. As of 17 August, iron ore inventories in Chinese ports were 96.8 million tonnes (mt) (equivalent to one month's domestic use), only 4% lower than the record high of 100.9 mt reported in early February 2012. China’s manufacturing contracted at the fastest pace since March 2009, a private survey showed, indicating the slowdown in the world’s second-largest economy is deepening, Bloomberg reports. The purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics had a final reading of 47.6 for August after a preliminary 47.8 provided Aug. 23. The gauge was at 49.3 in July. The dividing line between expansion and contraction is 50. Furthermore, manufacturing in the U.S. contracted for a third month in August, the longest slide since the recession ended and a sign the expansion is at risk of losing a source of strength. The Institute for Supply Management’s factory index fell to 49.6 last month, the lowest since July 2009, from 49.8 in July, the Tempe, Arizona-based group said.
If you add to all the above, the European debt crisis, which seems to be escalating lately, with no proven solution on the horizon....you get what? The 'perfect Shipping storm' on theatres around the world” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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Showing 4566 to 4570 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
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