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