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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Australian Coal Association
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
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