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