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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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