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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
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