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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
|
|
|
Showing 5576 to 5580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
