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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdown have seen charter rates for large dry bulk ships go into freefall as iron ore cargoes evaporated Shipbrokers said a dearth of coal cargoes and an oversupply of large ships had also contributed to the slump in rental prices.
Charter rates for large dry bulk capesize vessels of around 180,000 deadweight tonnes are down to their lowest level for 14 months. The crash has been so swift that shipowners and operators have lost around USD 270,000 in revenue in the past week on a voyage from Australia to China and more than USD 800,000 on a Brazil to China voyage.
Shipowners would generate revenue of about USD 1.17 million from an Australia-China voyage based on the prevailing rate recently compared with USD 1.44 million last Thursday.
Shipbrokers said rates for a large capesize vessel were on a par with those for a handysize ship that had a cargo carrying capacity that was almost six times smaller. Observers thought the slump would continue until at least the end of August.
Shipbrokers said mainland iron ore traders had been largely absent from the chartering market for large vessels for the past two months. This became apparent after preliminary customs figures showed the mainland imported 47.17 million tonnes of iron ore in June, down 9.1% from the 51.9 million tonnes in May and down 15%YoY. The May import figure was also down by 6pct MoM.
Customs said the mainland brought in 309.3 million tonnes of iron ore in the first six months of 2010 up by 4.1%YoY.
Source: CargoNewsAsia / Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Rio Tinto Coal - Australia
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- Formosa Plastics Group - Taiwan
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- Minerals Council of Australia
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- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
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- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
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- Meralco Power Generation, Philippines
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- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
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- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
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- Agrawal Coal Company - India
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- Economic Council, Georgia
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- Tata Chemicals Ltd - India
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- Parliament of New Zealand
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- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
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- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
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- Bhushan Steel Limited - India
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- Indian Oil Corporation Limited
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- The University of Queensland
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Australian Coal Association
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- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
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- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
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- Chamber of Mines of South Africa
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- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
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- Africa Commodities Group - South Africa
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- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
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- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
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