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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
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