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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on December 5th, 2008 .The first day of February commenced with the BDI closing at 662 points, the lowest level that the market has seen in the last 26 years and ongoing fears for the operational profitability of dry bulk players for the year ahead. During the last week, the BDI showed an upward trend by gaining for four consecutive days more than 10 points, but it is still trading below the psychological barrier of 1,000 points mark. Overall, the BDI closed on Friday of February 10th at 715 points, up by 10.5% from last week’s closing, with the panamax size outperforming over other vessel categories. All vessel sizes apart from handysizes showed upward movements from the trading bottom lows that hit shipping operators during the last days of January. The BPI showed a remarkable 39.5% week-on-week increase in contrast with a 4.1% week-on-week fall in the BHSI.
For large size vessels, capesizes, conditions remain very weak with the market needing more cargo input to absorb the oversupply headache. The Baltic Capesize Index remained almost stable, up by 1% week-on-week, by gaining 21 points from previous week, by closing at 1457 points with activity in the Atlantic market being slow from very limited cargo demand, while interest from Brazil to China is scarce. The heavy weather in the ports of Australia and Brazil, the main iron ore producers, along with the Chinese ban on the entrance of Vale’s mega very large ore capes into Chinese ports have created more downward pressure in the already fragile market given the slow Chinese steel activity during Chinese New Year.
The panamax market seems to be the first one that has shown strong signs of recovery from the end of Chinese holidays with the sentiment being improved for Atlantic traders and a flurry of period activity from firm South American demand. The BPI closed at 967 points, up 274 points, recording a remarkable increase from previous week and showing healthier average time charter earnings. For supramax vessels, condition in the Atlantic market is still in the doldrums with some improvement reported in the Pacific market. The BSI showed a better performance than capesizes by moving 6% higher than previous week and hopes for a firmer rebound in the following days. The BHSI lost 16 points by recording a 4% week-on-week decline as it seems that the large percentage of overaged vessels in this category has started to stress the market significantly and more intense scrapping activity is needed.
Will the BDI continue its upward movement? Will capesizes find a firmer support? The iron ore demand and China’s economic activity are the two key factors for the revival of dry operators.
BHP Billiton, the world's no. 3 iron ore miner, said in Reuters that fundamentals for iron ore demand remain strong, with Chinese steel making expected to pick up following the lunar New Year and with Indian iron ore supplies lagging expectations. Furthermore, Anglo American’s Kumba Iron Ore CEO Chris Griffith said that global iron ore demand is likely to improve over the medium-to-long term. Global demand for iron-ore would remain dependent on steel manufacturing in China, which accounted for more than two-thirds of demand, but which had had a relatively subdued second half during 2011. The JSE-listed miner held a positive view on the market from the second half of 2012. But over the first six months of 2012, the iron-ore market was expected to maintain its current market conditions. Zhu Hongreng, Chief Engineer of Ministry of industry and Information Technology of PRC, pointed out that China steel industry is to encounter tougher challenging in 2012 due to heightened unbalance between supply and demand arising from dwindling demand and further squeezed profit margin of domestic steel mills on rising iron ore prices.
However, the economic activity of China gives weak signs and brings some uncertainty regarding the Chinese import and export market sentiment. According to Custom’s Administration, China’s exports is estimated that dipped by 0.5% from a year earlier, the first decline in more than two years, raising fresh concerns about the impact of a global slowdown on its economy. Imports fell by 15.3%, resulting in a trade surplus of $27.3bn (£17bn) which was a six-month high. Analysts said while the closure of establishments during the Chinese New Year affected the numbers, the decline could not be attributed to the festival alone.They said that the bigger-than-expected drop, especially in imports, was worrying as it gave an indication of slowing growth. A fall of over 15% in January cannot be entirely explained by the lunar calendar, and adds weight to the view that economic output is slower than headline indicators might suggest
The China Federation of Logistics and Purchasing reported that the import index for January fell to 46.9 from 49.3 in the previous month, showing slowing demand at home. Despite these numbers, analysts said the dip was likely to be short-lived and imports may start to rise in the coming months.
Even the latest statistics data reveal a strong impact of the debt crisis on China’s trading activity; we will wait to see what the first quarter of the year will bring since January data usually give a distorted picture.
Source: Maria Bertzeletou, Hellenic Shipping
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Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
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