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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Planning Commission, India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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