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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Bhatia International Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
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