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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
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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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Showing 5626 to 5630 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Petron Corporation, Philippines
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