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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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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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Showing 5666 to 5670 news of total 6871 |
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- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Australian Coal Association
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
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