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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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