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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
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- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
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- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
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- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
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- Price Waterhouse Coopers - Russia
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
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- Bangladesh Power Developement Board
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- Commonwealth Bank - Australia
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- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
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- Independent Power Producers Association of India
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- Ceylon Electricity Board - Sri Lanka
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- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
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- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
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- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
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- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
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- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
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- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
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- Bukit Makmur.PT - Indonesia
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- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Petron Corporation, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
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- Tamil Nadu electricity Board
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- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
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- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
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- Coastal Gujarat Power Limited - India
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- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
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