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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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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 ...
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 ...
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 ...
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- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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