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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- VISA Power Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Planning Commission, India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
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