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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
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