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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
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