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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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- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Minerals Council of Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- MS Steel International - UAE
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
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