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