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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- PTC India Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
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