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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- PTC India Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
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