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