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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
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