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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
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