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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Australian Coal Association
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
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