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