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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
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