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