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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
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