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