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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
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