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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
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