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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
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