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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- PTC India Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
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