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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- SMC Global Power, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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