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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 previous week. Still, the question on most people’s lips is whether the current lull in the capesize sector will continue, or if Chinese steel mills decide to make a final push to restock in iron ore before the year ends. Yesterday, the Baltic Dry Index (BDI) was up by 0.51% to 2,179 points, while the capesize segment was practically unchanged to 2,987 points, rising by a mere four points or 0.13%.
According to shipbrokers’ reports though, Capesize and VLOC ship owners could be in for some hard times as we move forward into 2011. According to N.Cotzias’ latest weekly report, “what we saw as the most interesting pick of the week, was the continued downward return of Capes with 6 continuous downward sessions, which stopped Thursday onwards and turned positive for days, the 9 consecutive positive sessions of the Panamax size segment that turned negative on Friday we note that the Panamax sector poses a great deal of weekly volatility, we also comment on the Supramax sector that after 29 negative sessions count nine consecutive positive runs, and the Handies following closely with a very similar prolonged 34 days continual downhill run, that has already turned into an 8 day positive switch”.
But, Cotzias remains very sceptical regarding the capesize sector and specifically, whether it has found a potential “bottom”, or if it still has room to fall even further. “This negative negative momentum on the large ships has increased the uncertainty and has raised more of our concern about China’s ability to “support” all new ships that “fall in the water” every day.
On the other hand continued deliveries of so many new ships that have been added to the active fleet, is a seriously alarming problem that we feel has not been faced with the amount of seriousness and adequate severity. Many new ships almost 2 ½ ships Bulk Carriers have been delivered each day for the whole year with 11 months completed, and that ends up bringing the active fleet over 70 mil tones tallying a massive total 617 mil tones of carrying capacity. There are still pending for the remainder of 2010 (27 days!!!!) 730 ships of 16.3 mil tones that in theory have to be delivered by end of 2010” said Cotzias, highlighting the oversupply problem of the dry bulk market.
Of course it goes without saying that most of these will not and can’t be delivered later this year and will be transferred to the already strained orderbook waiting for 2011, where the expected dry cargo ships amount to 1851 ships of a total capacity of 129 mil tones. “We are of the considered opinion that there was a significant increase in the world fleet during 2010 and many more analysts feel that this influx of tonnage has “somewhat dampened” the overall positive effects of China’s growing demand. This dampening has kept the freight market to practically semi-mediocre or at the best case to well above sustainability daily levels, and had we had the same amount of tonnage instead of the +70mil dwt fleet we could have seen freight levels of 20-30% above the actual levels. Cancellations and scrapping are the only effective measures we may use against the overcapacity issues, but unless these ships cancelled or scrapped are tripled in volume, the problem will occur and we will just feel that up to now we would have swept the dust under the carpet” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
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