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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
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