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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ore export ban remains intact - but the surge in fixtures could possibly be an indication that the ban will soon be repealed” said the report.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, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
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