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