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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, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- The University of Queensland
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