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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- The University of Queensland
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
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