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