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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on December 5th, 2008 .The first day of February commenced with the BDI closing at 662 points, the lowest level that the market has seen in the last 26 years and ongoing fears for the operational profitability of dry bulk players for the year ahead. During the last week, the BDI showed an upward trend by gaining for four consecutive days more than 10 points, but it is still trading below the psychological barrier of 1,000 points mark. Overall, the BDI closed on Friday of February 10th at 715 points, up by 10.5% from last week’s closing, with the panamax size outperforming over other vessel categories. All vessel sizes apart from handysizes showed upward movements from the trading bottom lows that hit shipping operators during the last days of January. The BPI showed a remarkable 39.5% week-on-week increase in contrast with a 4.1% week-on-week fall in the BHSI.
For large size vessels, capesizes, conditions remain very weak with the market needing more cargo input to absorb the oversupply headache. The Baltic Capesize Index remained almost stable, up by 1% week-on-week, by gaining 21 points from previous week, by closing at 1457 points with activity in the Atlantic market being slow from very limited cargo demand, while interest from Brazil to China is scarce. The heavy weather in the ports of Australia and Brazil, the main iron ore producers, along with the Chinese ban on the entrance of Vale’s mega very large ore capes into Chinese ports have created more downward pressure in the already fragile market given the slow Chinese steel activity during Chinese New Year.
The panamax market seems to be the first one that has shown strong signs of recovery from the end of Chinese holidays with the sentiment being improved for Atlantic traders and a flurry of period activity from firm South American demand. The BPI closed at 967 points, up 274 points, recording a remarkable increase from previous week and showing healthier average time charter earnings. For supramax vessels, condition in the Atlantic market is still in the doldrums with some improvement reported in the Pacific market. The BSI showed a better performance than capesizes by moving 6% higher than previous week and hopes for a firmer rebound in the following days. The BHSI lost 16 points by recording a 4% week-on-week decline as it seems that the large percentage of overaged vessels in this category has started to stress the market significantly and more intense scrapping activity is needed.
Will the BDI continue its upward movement? Will capesizes find a firmer support? The iron ore demand and China’s economic activity are the two key factors for the revival of dry operators.
BHP Billiton, the world's no. 3 iron ore miner, said in Reuters that fundamentals for iron ore demand remain strong, with Chinese steel making expected to pick up following the lunar New Year and with Indian iron ore supplies lagging expectations. Furthermore, Anglo American’s Kumba Iron Ore CEO Chris Griffith said that global iron ore demand is likely to improve over the medium-to-long term. Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011. The JSE-listed miner held a positive view on the market from the second half of 2012. But over the first six months of 2012, the iron-ore market was expected to maintain its current market conditions. Zhu Hongreng, Chief Engineer of Ministry of industry and Information Technology of PRC, pointed out that China steel industry is to encounter tougher challenging in 2012 due to heightened unbalance between supply and demand arising from dwindling demand and further squeezed profit margin of domestic steel mills on rising iron ore prices.
However, the economic activity of China gives weak signs and brings some uncertainty regarding the Chinese import and export market sentiment. According to Custom’s Administration, China’s exports is estimated that dipped by 0.5% from a year earlier, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy. Imports fell by 15.3%, resulting in a trade surplus of $27.3bn (£17bn) which was a six-month high. Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth. A fall of over 15% in January cannot be entirely explained by the lunar calendar, and adds weight to the view that economic output is slower than headline indicators might suggest
The China Federation of Logistics and Purchasing reported that the import index for January fell to 46.9 from 49.3 in the previous month, showing slowing demand at home. Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.
Even the latest statistics data reveal a strong impact of the debt crisis on China’s trading activity; we will wait to see what the first quarter of the year will bring since January data usually give a distorted picture.
Source: Maria Bertzeletou, Hellenic Shipping
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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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Showing 5011 to 5015 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- The University of Queensland
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
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