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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
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