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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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