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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s session of the Baltic Dry Index (BDI), which ended with the main index down by 2.25% to 2,261 points. A similar fall occurred last Friday, which has now brought the market down to three-month low. Capesizes and Panamaxes were the main “losers” of Monday’s new drop. Nevertheless, with Indian iron ore exports recovering , the market offset part of last week’s losses, since a surprising number of vessels were chartered. According to Commodore Research, total of 16 vessels were chartered to haul Indian iron ore last week, an “explosion” compared to just 3 vessels from the previous week and up significantly from the trailing four week average of 5 vessels. Last week marked the largest number of vessels chartered to haul Indian iron ore in any single week this year. “The vast majority of the Indian iron ore fixtures were for supramax vessels; supramax rates are very likely to find support if this trend continues. So far, the Karnataka iron ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.
Still, brokers quoted by Reuters said there was a build-up in capesize availability and less chartering activity this week due to slower Chinese ore imports, which was acting as a drag on capesize rates. The pressure was being compounded by freight derivatives, known as paper, contract selling.
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Meanwhile, another factor which could seriously affect the dry bulk market in the coming weeks and months is the looming Chinese coal shortage. Chinese authorities are expecting a moderate shortage of thermal coal in the upcoming months, with coal supplies likely to be extremely tight in January 2011. Chinese coal demand normally peaks in January due to cold temperatures and a seasonal low in hydropower output. Chinese electricity consumption has declined as the government intended - but going forward, consumption will likely begin to increase again as the nation enters winter. “We continue to expect that Chinese coal imports will set new records in the upcoming months. Our conservative estimates anticipate that Chinese coal imports will total about 16.75mt in November and 17.25mt in December” reported Commodore.
In terms of Chinese steel production, steel mills produced about 50.3 million tons of crude steel in October, an increase of 2.35mt (5%) from 47.95mt produced in September. Steel production has increased as we expected; the 50.3mt actually slightly exceeded our forecast. According to Commodore, the moderate increase in steel production comes as a relief to many participants who were worried that Chinese steel production would remain at low levels due to the ongoing electricity restrictions on steel mills. Just two months ago, Chinese mills produced 51.64mt of crude steel, but production decreased by 7% in September once mill.
started receiving less electricity. Going forward, Chinese steel mills will continue to receive reduced allocations of electricity to due emission concerns and electricity shortages - but steel production will likely remain above September’s low (the 47.95mt of crude steel produced by Chinese steel mills was the lowest amount produced since December 2009). Prospects for near-term steel production have also become more encouraging due to the large amount of Chinese iron ore fixtures reported last week, and due to Chinese steel stockpiles declining for a fourth consecutive week.
As for shipowners’ moves in the second hand market, last week ended with 38 newbuilding orders, with strong activity, as shipbroker Golden Destiny reported. At the same time, the S&P momentum in the tanker continues to remain strong with 9 vessels reported to have changed hands while bulkcarrier transactions although at lower level are still popular. In the secondhand market, 22 vessels reported to have changed hands this week equalling a total amount of money invested around of $267,400,000, with 6 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 33% negative w-o-w change while has been marked with a positive change of 16% comparable with previous year’s weekly S&P activity. The bulkcarrier and tanker sector attracted most interest from the investors’ side, with an investment capital of $ 234,900,000, around 88% share of the total invested capital in the S&P secondhand market.
The Greek presence has been noticed this week only in 2 transactions reported in the secondhand and 2 in the newbuilding market. The preference in the secondhand market was towards a handysize bulkcarrier and an Anchor Handling Supply Vessel from the Offshore sector and in the newbuilding market in the subpanamax container sector, while the total invested capital was around $ 39,000,000 mil and $ 104,000,000 mil respectively.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
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