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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- GMR Energy Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
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