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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
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