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