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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
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