Cement News tagged under: Freight Markets

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Baltic gains reflect increased trading activities

22 April 2008, Published under Cement News

Hard to comprehend, the continuing desire to convert aging single-skin VLCCs to dry bulk carriers still continues, albeit at a slower pace, but neverless still a feature of current markets, with South Korea operator Polaris Shipping reportedly having just purchased four single-hull tankers for transformation into bulkers. In China the Cosco Shipyard also announced it has completed the first conversion contract in the recent wave. The Hosco-owned Hebei Success is reported to have come in at b...

Pakistan cement exports to Middle East and African increase

15 April 2008, Published under Cement News

High demand of Pakistan’s cement in the Middle East and African countries has enhanced significantly country’s exports by 80 percent in the three quarters of the current fiscal year to stand at 2.632Mt. According to the All Pakistan Cement Manufacturer Association (APCMA), the cement exports have registered 139 percent growth to reach at 5.1Mt so far in the fiscal year with the rising construction boom in Middle East, African countries, and India. The cement exports to Middle East and Afri...

Export coal shortages could impact on rates

20 March 2008, Published under Cement News

Coal markets have tended to dominate the news of late with reports of further congestion at Australia’s main export loaders likely to limit volumes for the foreseeable future with one report suggesting a loss of over 2Mt of sales. At the same time, China is contemplating reducing export allocations to around 32Mt in 2008 as its domestic coal production is being switched back into ensuring domestic buyers are given maximum allocations. Last year China exported over 53Mt. Both events likely to ...

Freight rates bounce back in February

18 February 2008, Published under Cement News

The Baltic Dry Index jumped 1000 points last week as confidence returned to the dry bulk market and expectations grew for more iron ore cargos, especially out of Brazil which had seen some supply disruptions in January. Freight rates have now returned to mid-January levels report brokers Barry Rogliano in Paris. Meanwhile, the Panamax market recorded the biggest improvement last week – an increase of over 20% - as disruption continued in the coal markets. Rio Tinto became the fifth Australia...

Markets show more instability

23 January 2008, Published under Cement News

Another frenetic week in the dry bulk market with more huge fluctuations in rates and plenty of drama behind the scenes. The Baltic Dry Index (BDI) finished ast Friday at  6462, down nearly 1500 on the week and its lowest level since July last  year. However by the end of the week there were signs of a major rebound in  the Forward Freight (FFA) market sector and for larger tonnage sizes rates seem to be holding up suggesting the present tirmoil might be short-lived. Meanwhile long-term pur...

Oversupply factors begin to bite

17 December 2007, Published under Cement News

The Baltic Panamax Index went down by 412 points mid-December, finishing at 9394. The four TC’s average lost US$3,400, falling from US$79,100 per day to US$75,700. Last week’s drop in the Panamax market was mainly driven by an oversupply of tonnage in the Pacific, with rates falling by US$5,000. Mid-December activity levels saw the Atlantic sector remaining steady but somewhat bearish reports broker Barry Rogliano The market has been sustained by a few fresh Panamax requirements. Interest f...

Merger mania hits mining sectors

12 November 2007, Published under Cement News

In a move that seemed unthinkable just a few months ago, BHP Billiton confirmed last week that it had made a formal offer for rival Rio Tinto. Such a merger would create a behemoth in the mining industry. So far Rio Tinto has rebuffed the Australian¹s $140bn all share bid, and indeed its stock price has already risen above the value of the offer. However it seems inevitable BHP will be back for more. Rio Tinto of course is still fresh off its own $38bn acquisition of Canad...

When will it all end?

15 October 2007, Published under Cement News

There was only one game in town last week: the incredible leap in the Baltic Dry Index. For the first time in its twenty-two year history the BDI breached the 10,000 mark, propelled by runaway rates in both the Capesize and Panamax sectors. It is easy to forget that just 12 months ago this figure seemed unimaginable. Then, the BDI languished at a mere 4126. Indeed, the incredible boom has now pushed the value of the biggest US-listed drybulk company, DryShips, beyond that of the largest publ...

No end in sight to market gains

27 September 2007, Published under Cement News

If any more evidence were needed that drybulk rates have gone through the roof, this week saw the Baltic Capesize Index record its biggest ever one-day gain, equivalent to a rise of 6%. The jaw-dropping increase means the index has now grown more than 60% in just six months. It is exactly these kinds of statistics that are drawing owners to order yet more and  more tonnage despite signs of increasing overload – Reports Barry Roglaino in Paris. Australia provided two potentially negative news...

A time for reflection perhaps?

13 August 2007, Published under Cement News

While many shipowners are quietly publishing their financial results for the first half of the year reflecting the amazing levels achieved on the charter market, mining companies have been starting to feel the first hints of the long lasting logistical chain congestion in Australia. Cost pressure and demurrage costs have dented Rio¹s continuous profit growth for the first time in four years. Rio¹s subsidiary Coal & Allied first half results suffered most from this situation with a net profi...