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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
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