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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Planning Commission, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
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