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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, $0.18 (2%) more than a week ago” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
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