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