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