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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previous week. Still, the question on most people’s lips is whether the current lull in the capesize sector will continue, or if Chinese steel mills decide to make a final push to restock in iron ore before the year ends. Yesterday, the Baltic Dry Index (BDI) was up by 0.51% to 2,179 points, while the capesize segment was practically unchanged to 2,987 points, rising by a mere four points or 0.13%.
According to shipbrokers’ reports though, Capesize and VLOC ship owners could be in for some hard times as we move forward into 2011. According to N.Cotzias’ latest weekly report, “what we saw as the most interesting pick of the week, was the continued downward return of Capes with 6 continuous downward sessions, which stopped Thursday onwards and turned positive for days, the 9 consecutive positive sessions of the Panamax size segment that turned negative on Friday we note that the Panamax sector poses a great deal of weekly volatility, we also comment on the Supramax sector that after 29 negative sessions count nine consecutive positive runs, and the Handies following closely with a very similar prolonged 34 days continual downhill run, that has already turned into an 8 day positive switch”.
But, Cotzias remains very sceptical regarding the capesize sector and specifically, whether it has found a potential “bottom”, or if it still has room to fall even further. “This negative negative momentum on the large ships has increased the uncertainty and has raised more of our concern about China’s ability to “support” all new ships that “fall in the water” every day.
On the other hand continued deliveries of so many new ships that have been added to the active fleet, is a seriously alarming problem that we feel has not been faced with the amount of seriousness and adequate severity. Many new ships almost 2 ½ ships Bulk Carriers have been delivered each day for the whole year with 11 months completed, and that ends up bringing the active fleet over 70 mil tones tallying a massive total 617 mil tones of carrying capacity. There are still pending for the remainder of 2010 (27 days!!!!) 730 ships of 16.3 mil tones that in theory have to be delivered by end of 2010” said Cotzias, highlighting the oversupply problem of the dry bulk market.
Of course it goes without saying that most of these will not and can’t be delivered later this year and will be transferred to the already strained orderbook waiting for 2011, where the expected dry cargo ships amount to 1851 ships of a total capacity of 129 mil tones. “We are of the considered opinion that there was a significant increase in the world fleet during 2010 and many more analysts feel that this influx of tonnage has “somewhat dampened” the overall positive effects of China’s growing demand. This dampening has kept the freight market to practically semi-mediocre or at the best case to well above sustainability daily levels, and had we had the same amount of tonnage instead of the +70mil dwt fleet we could have seen freight levels of 20-30% above the actual levels. Cancellations and scrapping are the only effective measures we may use against the overcapacity issues, but unless these ships cancelled or scrapped are tripled in volume, the problem will occur and we will just feel that up to now we would have swept the dust under the carpet” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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 ...
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- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Australian Coal Association
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- The University of Queensland
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
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