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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- ICICI Bank Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
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