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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Australian Coal Association
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
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