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Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry’s benchmark has been falling this week, with the Baltic Dry Index (BDI) retreating yesterday to 1,886 points, close to its 2010 lowest. Both the capesize and the panamax segments were among the main losing sectors yesterday. During the course of the previous week, the Baltic Capesize Index managed to put a halt in its demise, by posting a marginal increase of 1% on a weekly basis. According to a weekly report from shipbroker Barry Rogliano Salles (BRS), the improvement was mainly due to a surge in demand from the big miners in the Pacific in the later part of the week. However the Capesize 4TC is now hovering around US$25,000 per day, the lowest point since the summer and well down on the average for the year. In India, Karnataka ore sellers will have to wait until mid January to hear a decision on their bid to overturn the state’s export ban. This week India’s top court gave the state additional time to respond to the miners’ legal petition. The Federation of Indian Mineral Industries has already estimated the ban will reduce India’s ore exports by 38% to 66m tons in 2010. The Karnataka High Court earlier upheld the provincial government’s decision to halt shipments overseas” said BRS.
It also warned though that based on trading in the futures market, rates are expected to continue their drift down in 2011, with 1H 2011 looking slightly more optimistic still than second half. Ship deliveries have slowed at the year end, but we can expect a resurgence in January with many owners postponing their December deliveries to the new year in order to have the more attractive ‘2011 built’ tag.
In a separate analysis, N.Cotzias Shipping Group mentioned that “we definitely get no short term trend patterns out of monitoring the indices, and that is for sure. If one expected to get a clear indication of the Dry bulk market just by studying the Baltic indicators we believe that this would never be sufficient, given the volatility and fluctuations that have become even more drastic during Nov & Dec of 2010. We expect this erratic behavior to continue well into 2011 with rather short term spikes to be followed by equal magnitude rapid falls. With more ships entering the market and with substantially lower increase in the demand for these, we feel that we should well embrace ourselves for falling ship prices, and many investment opportunities that will be there for the investors and owners that are seeking new fresh acquisitions. 2011 may well be a good year for the secondhand and resale S&P market and we will expect softer prices at more realistic levels to prevail” said the broker.
According to the report the past week’s interesting moves were the serious fall of the Panamaxes that have continued to contribute to the uncertainty with its weekly crazy looking ups and downs that have now started to fluctuate on a weekly trend. The stabilization of the Capes that show that there is the potential to make a rise, positive signs on the Cape market are seen by the secondhand sale and purchase and newbuilding front where some decent sized and decent priced capes changed hands or found a new “master” this week. Poly’s Hajioannou Safebulkers inked a Cape NB at Jinhai at $53mil backed by a 10y T/C at $25,000 per day. Also two NB resale capes were reported this week, with delay 11/2011 and 2/2012 by Noble who have agreed also on taking them in on long term T/C. FormosaBulk Energy 170k built 2002 was sold to undisclosed for 42.7mil while the smaller “Iron Brothers” 151k, 91 blt was sold to Chinese for $19.5mil said Cotzias.
As for China’s moves affecting the market, the weekly report on China from US-based Commodore Research & Consultancy said that Chinese commodity demand remains strong despite concerns over inflation. Thermal coal demand remains especially robust and coal shortages have become very severe in the central part of the nation. Steel output remains steady which has continued to result in firm demand for imported iron ore. Market sentiment has not yet fully recovered from inflation-related pressure however. Also, it mentioned that as a whole, coastal shipping rates to haul dry bulk commodities to ports along China’s coast have decreased moderately in recent weeks. Chinese commodity demand has remained strong but rates have come under pressure due to decreases in congestion. Congestion appears to be firming and rates to ship grain have begun to find support. Rates to ship grain from ports in Liaoning province (a major grain producing province in northeast China) to ports in Guangdong province (located in southern China) have increased to approximately $11.38/ton, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
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