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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Australian Coal Association
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
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