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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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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Sinarmas Energy and Mining - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Standard Chartered Bank - UAE
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- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
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- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
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- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Anglo American - United Kingdom
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- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
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- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
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- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
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- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
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- Planning Commission, India
- PowerSource Philippines DevCo
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- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
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- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
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- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
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- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
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