We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
 The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the capesize. The Baltic Exchange’s main index has shown an average weekly increase of 6.7% in March with constant gains for the last 16 days. It has moved near to 900 points by closing on Friday March 16th at 874 points, up by 6.07% on a weekly basis, and narrows the gap from the psychological barrier of 1,000 points. Capesize rates continue to be under pressure as spot fixture activity remains muted with average daily earnings standing below $5,500/day. The intense volatility in the iron market halts the solid performance of capesize vessels with panamaxes showing a firmer outlook on the back of a grain season in the Atlantic basin. Supramax vessels are outperforming among other vessel categories, from the beginning of March, with average daily earnings rising to more than $9,000/day.
Overall, all vessel categories experienced positive gains this week apart from capesizes with an euphoria in supramax and handysize vessels that leads the Baltic Dry Index at levels by 35% upwards from February 2nd, when it was at 648 points.
In the capesize segment, the BCI has lost another 37 points on a weekly basis by standing at 1,466 points, 2.46% down from previous week’s closing with vessel earnings below breakeven levels. Average time charter earnings for capesize vessels have fallen by 80% from the end of December 2011, when they were earning more than $27,000/day. An upcoming threat for capesize operators is the tropical cyclone Lua that is expected to cross the North West coast of Western Australia as a category four cyclone, disrupting mining operations and transport in the region.
Capesize spot rates on Australia to China are about $7.70 per tonne, down from about $7.90 per tonne last week, with capesizes halting their iron ore loadings at mining companies’ busiest ports. The Port Hedland iron ore terminal closed on Friday to escape the from Cyclone Lua, and miner Rio Tinto said operations were winding down at the two ports it uses, Dampier and Cape Lambert. The shutdown of Australia's major iron ore exporting port, Port Hedland, would be a negative factor for capesizes’ fixture activity and vessel earnings. Brazilian iron ore exports slumped 37% year on year in January as heavy rainfall disrupted production and demand in China eased.
In the panamax segment, a quiet Pacific market was rebalanced by modest improvements in cargoes from the Atlantic to Asia with vessel earnings moving to more than $7,700/day, but 50% lower from last year’s levels, when they were earning excess $16,000/day. The BPI closed on Friday at 971 points, up by 9.22% from last week with positive prospects for grain and thermal coal fixtures activity that will maintain the healthiest performance of smaller vessel segments against capesizes.
In the supramax market, vessels, which carry about 25 percent less than panamaxes, seem to have a better outlook in the heavy oversupplied dry bulk industry. Average time charter earnings for supramax vessels have shown a strong revival over the last three weeks with earnings more than $9,000/day, when at the end of January they were earning less than $7,000/day. Handysize units also follow with earnings more than $7,500/day, at similar levels with panamax earnings. The BSI closed at 951, up by 10.07% on a weekly basis, compared with a 9% and 8% rise in the panamax and handysize segment respectively.
The strong outlook of the supramax and handysize segment seems that will lift the BDI above the 1,000 points mark, but the outlook of dry bulk earnings is still negative as China cut its growth target last week. The fragile economic outlook of China signals an era of a weaker Chinese demand for iron ore, the world’s biggest buyer of the commodity and the main driver of the positive incline of the BDI.
Chinese iron ore inventories persist at hefty levels, near to 100 million tons, with iron ore import market sentiment showing signs of a slower growth at least till 2015. The government is aiming to boost the volume of imports to be sourced from Chinese invested mines abroad, by another 100m tonnes / year, to reduce the heavy reliance of the country on imports from Australia and Brazil. Moody’s Investors Service has warned that China’s growth in steel demand will slow sharply to 5.7% this year, almost half of the average 11.1% growth during the previous three years. Furthermore, the China Iron and Steel Association has halved its growth estimate for the steel industry from 8% last year to just 4% in 2012.
The dry bulk shipping industry is almost undeniable that will continue to be under serious strains for at least two years that will downsize the financial performance of dry bulk shipping players. According to Standard & Poor’s the dry bulk shipping sector will face the heaviest oversupply pressures over the next 12 to 18 months, compared with oil tanker and container market, and shipping firms will face tighter financing as banks cut their exposure to risky and dollar denominated assets.
Source: Maria Bertzeletou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
|
|
|
Showing 4786 to 4790 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
|
| |
| |
|
