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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- SMC Global Power, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
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