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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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Indian Energy Exchange, India
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