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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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