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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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