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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
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