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Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry’s benchmark has been falling this week, with the Baltic Dry Index (BDI) retreating yesterday to 1,886 points, close to its 2010 lowest. Both the capesize and the panamax segments were among the main losing sectors yesterday. During the course of the previous week, the Baltic Capesize Index managed to put a halt in its demise, by posting a marginal increase of 1% on a weekly basis. According to a weekly report from shipbroker Barry Rogliano Salles (BRS), the improvement was mainly due to a surge in demand from the big miners in the Pacific in the later part of the week. However the Capesize 4TC is now hovering around US$25,000 per day, the lowest point since the summer and well down on the average for the year. In India, Karnataka ore sellers will have to wait until mid January to hear a decision on their bid to overturn the state’s export ban. This week India’s top court gave the state additional time to respond to the miners’ legal petition. The Federation of Indian Mineral Industries has already estimated the ban will reduce India’s ore exports by 38% to 66m tons in 2010. The Karnataka High Court earlier upheld the provincial government’s decision to halt shipments overseas” said BRS.
It also warned though that based on trading in the futures market, rates are expected to continue their drift down in 2011, with 1H 2011 looking slightly more optimistic still than second half. Ship deliveries have slowed at the year end, but we can expect a resurgence in January with many owners postponing their December deliveries to the new year in order to have the more attractive ‘2011 built’ tag.
In a separate analysis, N.Cotzias Shipping Group mentioned that “we definitely get no short term trend patterns out of monitoring the indices, and that is for sure. If one expected to get a clear indication of the Dry bulk market just by studying the Baltic indicators we believe that this would never be sufficient, given the volatility and fluctuations that have become even more drastic during Nov & Dec of 2010. We expect this erratic behavior to continue well into 2011 with rather short term spikes to be followed by equal magnitude rapid falls. With more ships entering the market and with substantially lower increase in the demand for these, we feel that we should well embrace ourselves for falling ship prices, and many investment opportunities that will be there for the investors and owners that are seeking new fresh acquisitions. 2011 may well be a good year for the secondhand and resale S&P market and we will expect softer prices at more realistic levels to prevail” said the broker.
According to the report the past week’s interesting moves were the serious fall of the Panamaxes that have continued to contribute to the uncertainty with its weekly crazy looking ups and downs that have now started to fluctuate on a weekly trend. The stabilization of the Capes that show that there is the potential to make a rise, positive signs on the Cape market are seen by the secondhand sale and purchase and newbuilding front where some decent sized and decent priced capes changed hands or found a new “master” this week. Poly’s Hajioannou Safebulkers inked a Cape NB at Jinhai at $53mil backed by a 10y T/C at $25,000 per day. Also two NB resale capes were reported this week, with delay 11/2011 and 2/2012 by Noble who have agreed also on taking them in on long term T/C. FormosaBulk Energy 170k built 2002 was sold to undisclosed for 42.7mil while the smaller “Iron Brothers” 151k, 91 blt was sold to Chinese for $19.5mil said Cotzias.
As for China’s moves affecting the market, the weekly report on China from US-based Commodore Research & Consultancy said that Chinese commodity demand remains strong despite concerns over inflation. Thermal coal demand remains especially robust and coal shortages have become very severe in the central part of the nation. Steel output remains steady which has continued to result in firm demand for imported iron ore. Market sentiment has not yet fully recovered from inflation-related pressure however. Also, it mentioned that as a whole, coastal shipping rates to haul dry bulk commodities to ports along China’s coast have decreased moderately in recent weeks. Chinese commodity demand has remained strong but rates have come under pressure due to decreases in congestion. Congestion appears to be firming and rates to ship grain have begun to find support. Rates to ship grain from ports in Liaoning province (a major grain producing province in northeast China) to ports in Guangdong province (located in southern China) have increased to approximately $11.38/ton, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
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