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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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Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
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