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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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Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
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