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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
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