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