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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Marubeni Corporation - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Australian Coal Association
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
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