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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
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