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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
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