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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
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- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Minerals Council of Australia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Planning Commission, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
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