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