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