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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
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