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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
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