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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
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