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