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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
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