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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
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