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