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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- PTC India Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Australian Coal Association
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
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