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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Posco Energy - South Korea
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
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