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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- ICICI Bank Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- PTC India Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
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