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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
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