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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
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