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.
|
|
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
|
|
|
Showing 5616 to 5620 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
|
| |
| |
|
