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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
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