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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
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Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- The Treasury - Australian Government
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
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