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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- PowerSource Philippines DevCo
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- Neyveli Lignite Corporation Ltd, - India
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- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- The University of Queensland
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- Eastern Energy - Thailand
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- McConnell Dowell - Australia
- Sical Logistics Limited - India
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- Romanian Commodities Exchange
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- Ministry of Transport, Egypt
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- Agrawal Coal Company - India
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
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- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
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- Kohat Cement Company Ltd. - Pakistan
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- Banpu Public Company Limited - Thailand
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- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
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- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Parliament of New Zealand
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- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
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- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
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