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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, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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