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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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Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Planning Commission, India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
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