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.
|
|
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
|
|
|
Showing 5561 to 5565 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- The University of Queensland
- PTC India Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
|
| |
| |
|
