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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Australian Coal Association
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- The University of Queensland
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
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