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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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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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