We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as freight rates haven't had that necessary push to jumpstart. According to the latest monthly report from shipbroker Intermodal, "this has been reflected in the continuous drop in price for the commodity which was on an almost free-fall course from its latest price peak of $158.9 per dry ton reached on the 20th of February. The significantly slower economic momentum of China has slashed demand for this development-linked commodity, dragging both the price as well as the freight cost to multi-month lows. This is set to continue for most of the year, with destocking still a central strategy in China", the report said.
According to Mr. George Lazaridis, Research Analyst with Intermodal, "the industry view tends to be that for the long-run, even these bottom-of-the-cycle prices are much higher than what most analysts believe should be the prevailing level. This leads to an expectation of surplus production which eventually could lead to problems in ship-ping, as sources such as South Africa increase their stake in China’s iron ore imports, slashing in turn tonne-mile demand for Capes.
The question that is of more vital importance and an ongoing topic of conversation this year amongst shipping circles is; When can we expect an improvement in market fundamentals?
The answer is looking somewhat more worrying for Capes. It will take a lot more than just cheap commodity prices to get things going again. The Chinese slowdown does not seem to be a temporary hiccup and as such people should be taking it more serious", he noted.
With China accounting last year for 47% of global steel production, there is no debate as to who drives the demand for Capes. "Being heavily dependent on Chinese heavy industry production and investment in infrastructure any further slowdown in economic growth has an imminent impact on freight rates for this sector. Without this driving demand it is hard for this segment to see the sharp rise in freight rates and secondhand prices that many had hoped we would reach within this year. Nevertheless it’s not all black. Baosteel sees a 1-2 pct increase in Chinese steel production this year. The year-to-date increase in output of 7% shows a promise for improved markets in the final quarter, while at the same time it would take a substantial slow-down in output in the second-half for there to be a year-on-year drop in Chinese steel output", Lazaridis said.
With all the above in mind a few questions arise, like for instance, where is the basis for all this business being reported in the Capesize market? Is there a sense that previous bullish sentiment for this size group is leading new investment without there being a real demand for further fleet growth? Could this lead to further dragging out of sub-performing markets?
According to Lazaridis' viewpoint, "over the past couple of months we have seen the majority of trading sessions being reported at average freight figures bellow what is expected for most owners to cover OPEX. Even on some of the more positive trading days, TCE increases are temporary and usually attributed to momentary decreases in bunker costs as well as slow steaming throughout the fleet which helps increase what little extra earnings owners can squeeze out of the current market rates. The counter argument to this can be found in part in the wisdom of old. Through most shipping cycles owners have usually taken a long-term position hoping to make high gains through the cycle rather than only looking to act during periods where the market is on the rise. If they waited for the later we would not have any ship owners left. This may explain activity in the secondhand market however things are very different when it comes to newbuildings. Capesize newbuilding designs have not had the same overhaul in performance that we have seen in other size segments. So why are owner’s risking of drowning the market with further ordering when there are plenty of well-priced secondhand units available. It seems to be yet again the case of easier financing, respectively lower prices, easi-er payment terms and forward delivery that have the upside of even gaining in value before you have made full payment. As promising as all these sound to a potential buyer, a word of caution to the brave, “as you sow, so shall you reap”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
|
|
|
Showing 4246 to 4250 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- White Energy Company Limited
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
|
| |
| |
|
