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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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Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
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