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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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