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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
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