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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
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