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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
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