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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s session of the Baltic Dry Index (BDI), which ended with the main index down by 2.25% to 2,261 points. A similar fall occurred last Friday, which has now brought the market down to three-month low. Capesizes and Panamaxes were the main “losers” of Monday’s new drop. Nevertheless, with Indian iron ore exports recovering , the market offset part of last week’s losses, since a surprising number of vessels were chartered. According to Commodore Research, total of 16 vessels were chartered to haul Indian iron ore last week, an “explosion” compared to just 3 vessels from the previous week and up significantly from the trailing four week average of 5 vessels. Last week marked the largest number of vessels chartered to haul Indian iron ore in any single week this year. “The vast majority of the Indian iron ore fixtures were for supramax vessels; supramax rates are very likely to find support if this trend continues. So far, the Karnataka iron ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.
Still, brokers quoted by Reuters said there was a build-up in capesize availability and less chartering activity this week due to slower Chinese ore imports, which was acting as a drag on capesize rates. The pressure was being compounded by freight derivatives, known as paper, contract selling.
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Meanwhile, another factor which could seriously affect the dry bulk market in the coming weeks and months is the looming Chinese coal shortage. Chinese authorities are expecting a moderate shortage of thermal coal in the upcoming months, with coal supplies likely to be extremely tight in January 2011. Chinese coal demand normally peaks in January due to cold temperatures and a seasonal low in hydropower output. Chinese electricity consumption has declined as the government intended - but going forward, consumption will likely begin to increase again as the nation enters winter. “We continue to expect that Chinese coal imports will set new records in the upcoming months. Our conservative estimates anticipate that Chinese coal imports will total about 16.75mt in November and 17.25mt in December” reported Commodore.
In terms of Chinese steel production, steel mills produced about 50.3 million tons of crude steel in October, an increase of 2.35mt (5%) from 47.95mt produced in September. Steel production has increased as we expected; the 50.3mt actually slightly exceeded our forecast. According to Commodore, the moderate increase in steel production comes as a relief to many participants who were worried that Chinese steel production would remain at low levels due to the ongoing electricity restrictions on steel mills. Just two months ago, Chinese mills produced 51.64mt of crude steel, but production decreased by 7% in September once mill.
started receiving less electricity. Going forward, Chinese steel mills will continue to receive reduced allocations of electricity to due emission concerns and electricity shortages - but steel production will likely remain above September’s low (the 47.95mt of crude steel produced by Chinese steel mills was the lowest amount produced since December 2009). Prospects for near-term steel production have also become more encouraging due to the large amount of Chinese iron ore fixtures reported last week, and due to Chinese steel stockpiles declining for a fourth consecutive week.
As for shipowners’ moves in the second hand market, last week ended with 38 newbuilding orders, with strong activity, as shipbroker Golden Destiny reported. At the same time, the S&P momentum in the tanker continues to remain strong with 9 vessels reported to have changed hands while bulkcarrier transactions although at lower level are still popular. In the secondhand market, 22 vessels reported to have changed hands this week equalling a total amount of money invested around of $267,400,000, with 6 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 33% negative w-o-w change while has been marked with a positive change of 16% comparable with previous year’s weekly S&P activity. The bulkcarrier and tanker sector attracted most interest from the investors’ side, with an investment capital of $ 234,900,000, around 88% share of the total invested capital in the S&P secondhand market.
The Greek presence has been noticed this week only in 2 transactions reported in the secondhand and 2 in the newbuilding market. The preference in the secondhand market was towards a handysize bulkcarrier and an Anchor Handling Supply Vessel from the Offshore sector and in the newbuilding market in the subpanamax container sector, while the total invested capital was around $ 39,000,000 mil and $ 104,000,000 mil respectively.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
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