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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- The University of Queensland
- Central Java Power - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Aditya Birla Group - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
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