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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
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