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