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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on December 5th, 2008 .The first day of February commenced with the BDI closing at 662 points, the lowest level that the market has seen in the last 26 years and ongoing fears for the operational profitability of dry bulk players for the year ahead. During the last week, the BDI showed an upward trend by gaining for four consecutive days more than 10 points, but it is still trading below the psychological barrier of 1,000 points mark. Overall, the BDI closed on Friday of February 10th at 715 points, up by 10.5% from last week’s closing, with the panamax size outperforming over other vessel categories. All vessel sizes apart from handysizes showed upward movements from the trading bottom lows that hit shipping operators during the last days of January. The BPI showed a remarkable 39.5% week-on-week increase in contrast with a 4.1% week-on-week fall in the BHSI.
For large size vessels, capesizes, conditions remain very weak with the market needing more cargo input to absorb the oversupply headache. The Baltic Capesize Index remained almost stable, up by 1% week-on-week, by gaining 21 points from previous week, by closing at 1457 points with activity in the Atlantic market being slow from very limited cargo demand, while interest from Brazil to China is scarce. The heavy weather in the ports of Australia and Brazil, the main iron ore producers, along with the Chinese ban on the entrance of Vale’s mega very large ore capes into Chinese ports have created more downward pressure in the already fragile market given the slow Chinese steel activity during Chinese New Year.
The panamax market seems to be the first one that has shown strong signs of recovery from the end of Chinese holidays with the sentiment being improved for Atlantic traders and a flurry of period activity from firm South American demand. The BPI closed at 967 points, up 274 points, recording a remarkable increase from previous week and showing healthier average time charter earnings. For supramax vessels, condition in the Atlantic market is still in the doldrums with some improvement reported in the Pacific market. The BSI showed a better performance than capesizes by moving 6% higher than previous week and hopes for a firmer rebound in the following days. The BHSI lost 16 points by recording a 4% week-on-week decline as it seems that the large percentage of overaged vessels in this category has started to stress the market significantly and more intense scrapping activity is needed.
Will the BDI continue its upward movement? Will capesizes find a firmer support? The iron ore demand and China’s economic activity are the two key factors for the revival of dry operators.
BHP Billiton, the world's no. 3 iron ore miner, said in Reuters that fundamentals for iron ore demand remain strong, with Chinese steel making expected to pick up following the lunar New Year and with Indian iron ore supplies lagging expectations. Furthermore, Anglo American’s Kumba Iron Ore CEO Chris Griffith said that global iron ore demand is likely to improve over the medium-to-long term. Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011. The JSE-listed miner held a positive view on the market from the second half of 2012. But over the first six months of 2012, the iron-ore market was expected to maintain its current market conditions. Zhu Hongreng, Chief Engineer of Ministry of industry and Information Technology of PRC, pointed out that China steel industry is to encounter tougher challenging in 2012 due to heightened unbalance between supply and demand arising from dwindling demand and further squeezed profit margin of domestic steel mills on rising iron ore prices.
However, the economic activity of China gives weak signs and brings some uncertainty regarding the Chinese import and export market sentiment. According to Custom’s Administration, China’s exports is estimated that dipped by 0.5% from a year earlier, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy. Imports fell by 15.3%, resulting in a trade surplus of $27.3bn (£17bn) which was a six-month high. Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth. A fall of over 15% in January cannot be entirely explained by the lunar calendar, and adds weight to the view that economic output is slower than headline indicators might suggest
The China Federation of Logistics and Purchasing reported that the import index for January fell to 46.9 from 49.3 in the previous month, showing slowing demand at home. Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.
Even the latest statistics data reveal a strong impact of the debt crisis on China’s trading activity; we will wait to see what the first quarter of the year will bring since January data usually give a distorted picture.
Source: Maria Bertzeletou, Hellenic Shipping
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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
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