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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on December 5th, 2008 .The first day of February commenced with the BDI closing at 662 points, the lowest level that the market has seen in the last 26 years and ongoing fears for the operational profitability of dry bulk players for the year ahead. During the last week, the BDI showed an upward trend by gaining for four consecutive days more than 10 points, but it is still trading below the psychological barrier of 1,000 points mark. Overall, the BDI closed on Friday of February 10th at 715 points, up by 10.5% from last week’s closing, with the panamax size outperforming over other vessel categories. All vessel sizes apart from handysizes showed upward movements from the trading bottom lows that hit shipping operators during the last days of January. The BPI showed a remarkable 39.5% week-on-week increase in contrast with a 4.1% week-on-week fall in the BHSI.
For large size vessels, capesizes, conditions remain very weak with the market needing more cargo input to absorb the oversupply headache. The Baltic Capesize Index remained almost stable, up by 1% week-on-week, by gaining 21 points from previous week, by closing at 1457 points with activity in the Atlantic market being slow from very limited cargo demand, while interest from Brazil to China is scarce. The heavy weather in the ports of Australia and Brazil, the main iron ore producers, along with the Chinese ban on the entrance of Vale’s mega very large ore capes into Chinese ports have created more downward pressure in the already fragile market given the slow Chinese steel activity during Chinese New Year.
The panamax market seems to be the first one that has shown strong signs of recovery from the end of Chinese holidays with the sentiment being improved for Atlantic traders and a flurry of period activity from firm South American demand. The BPI closed at 967 points, up 274 points, recording a remarkable increase from previous week and showing healthier average time charter earnings. For supramax vessels, condition in the Atlantic market is still in the doldrums with some improvement reported in the Pacific market. The BSI showed a better performance than capesizes by moving 6% higher than previous week and hopes for a firmer rebound in the following days. The BHSI lost 16 points by recording a 4% week-on-week decline as it seems that the large percentage of overaged vessels in this category has started to stress the market significantly and more intense scrapping activity is needed.
Will the BDI continue its upward movement? Will capesizes find a firmer support? The iron ore demand and China’s economic activity are the two key factors for the revival of dry operators.
BHP Billiton, the world's no. 3 iron ore miner, said in Reuters that fundamentals for iron ore demand remain strong, with Chinese steel making expected to pick up following the lunar New Year and with Indian iron ore supplies lagging expectations. Furthermore, Anglo American’s Kumba Iron Ore CEO Chris Griffith said that global iron ore demand is likely to improve over the medium-to-long term. Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011. The JSE-listed miner held a positive view on the market from the second half of 2012. But over the first six months of 2012, the iron-ore market was expected to maintain its current market conditions. Zhu Hongreng, Chief Engineer of Ministry of industry and Information Technology of PRC, pointed out that China steel industry is to encounter tougher challenging in 2012 due to heightened unbalance between supply and demand arising from dwindling demand and further squeezed profit margin of domestic steel mills on rising iron ore prices.
However, the economic activity of China gives weak signs and brings some uncertainty regarding the Chinese import and export market sentiment. According to Custom’s Administration, China’s exports is estimated that dipped by 0.5% from a year earlier, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy. Imports fell by 15.3%, resulting in a trade surplus of $27.3bn (£17bn) which was a six-month high. Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth. A fall of over 15% in January cannot be entirely explained by the lunar calendar, and adds weight to the view that economic output is slower than headline indicators might suggest
The China Federation of Logistics and Purchasing reported that the import index for January fell to 46.9 from 49.3 in the previous month, showing slowing demand at home. Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.
Even the latest statistics data reveal a strong impact of the debt crisis on China’s trading activity; we will wait to see what the first quarter of the year will bring since January data usually give a distorted picture.
Source: Maria Bertzeletou, Hellenic Shipping
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
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