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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
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