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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 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
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