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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
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