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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Australian Coal Association
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
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