We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
 Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) gaining once again on Thursday, to reach 1942 points (up by 41 on a daily basis), or 2.16 percent. This was the 10th straight session of increases, despite the fact that most analysts appear rather pessimistic on the short-term prospects of the market. Another conclusion from yesterday’s market, was the continued rebounding trend of the capesize segment, with the respective Capesize Index gaining a further 85 points or 4.72 percent. As a result, average daily freight rates have edged higher than the $12,500 mark they had been in the past days, to $14,443.
This rebound has been triggered by a firmer iron ore demand and a restocking taking place in China, as a result of a better looking steel market. Shipbrokers estimate that currently low spot prices for iron ore, not to mention freight rates are causing more cargo purchases from steel mills, looking to take advantage of the situation. For the moment, nobody can rule out a double dip of the market, but it seems that for now, dry bulk ship owners are out in the clearing. Meanwhile, FBR Capital Markets said, in comments quoted by Reuters, that the fourth quarter of 2010 is likely to support a healthier iron ore trade, as contracts for the raw material are likely to more closely reflect spot prices in that period, rather than in the third quarter.
But, apart from cargo demand trade patterns and seasonality, the main concern of the market is the oversupply issues it faces, in terms of new tonnage delivered. According to ICAP Shipping, the dry bulk fleet expanded by some 340 ships amounting to 32 millon dwt in the first half of this year after allowing for the limited number of scrappings and other removals (some 46 ships of 1.6 million dwt). At the same time a large number of ships were contracted for future construction (346/31.2 million Dwt). This rapid expansion in the fleet - some 54 million dwt (+13%) over the past 12 months has been a primary factor in the decline in earnings since May this year which have slumped from typically $48,000 pd for a Cape to $16,000 now in July.
According to recent comments from Piraeus-based shipbroker Cotzias, “it seems that the overexcitement that led owners to order more dry cargo new buildings will only put more pressure on a market that had previously been alive but with what proved to be “mechanical and medical support”!!! The freight levels that were in excess of 30k per day, made everyone think that the newbuilding price for a Kamsarmax is value for money, and yes it could well be… but what will happen if the current dropping freight market continues at this pace for another 2 months? And 2 months with the excess volatility of the current markets seems like a long time, in which time, will the dry market face freight levels that will be adequate to cover the break even daily operating expenses including basic loan repayments? And what can be easily said to be the breakeven levels of these days, especially for ships that were acquired during 2008 and 2007? We are cautious to the extent that the headache of newbuilding orders has been cured by a regular daily feed of strong pain killers… One “blessing” was we believe the lesson we have all learnt from the container market that recently only started to push away from the “bottom” and the fact that over the past 1.5 years it has taught us that pricing at marginal cost is unsustainable, as vessels start getting laid up before long” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
|
|
|
Showing 5531 to 5535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
|
| |
| |
|
