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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 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
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