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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- GMR Energy Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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