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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
 Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - the odds are clearly against the drybulk sector absorbing the current newbuilding orderbook. The size of the demand/supply mismatch will determine whether dry bulk shipping shall face a soft or hard landing. We all hope for a soft landing but we are bracing ourselves for a hard landing. Once bitten - twice shy!
In 2008, the BDI had reached 11,793 points on 20th May and it fell to 663 points on December 5th of the same year; the speed and the scale of this short-term "crisis" took the shipping industry by surprise. The recovery in 2009 has been also unexpected but welcome; restoring the confidence of all parties involved. Is what we are experiencing today "deja-vu"?
Some years ago, a charter rate of $18,000 per day for a modern panamax was considered to be very robust. Today, the same vessel is chartered at this level but, for some owners, this is NOT necessarily considered a good rate. In other words, we face the paradox that the current market can be interpreted at the same time good for some and modest or bad for other owners, depending on their investment position.
Although rates are well down from the high levels of recent years, historically they are still relatively good and should be profitable, so the market is not bad, but to those who have not been around for the last 20 years they seem low. We should not forget the fact that between 1985 and 2003, BDI ranged between 600 and 2,200 points....
It would be a shot in the dark to try and guess on where the market is heading. But, if the recent plunge of the Baltic Dry Index continues; it is almost certain that, at some point, vessel prices will be forcibly reduced to a level that will be in direct correlation with freight market conditions. Something similar to what the shipping market experienced at the beginning of 2009 - and who would want to lose out again on such a chance to buy low?
Chartering (Wet: Soft- / Dry: Weaker-)
No improvement was noted in the dry bulk market this week, as rates continued to fall across the board pushing the BDI to a more than 14 month low. The BDI today (13/07/2010) closed at 1,790points, a decrease of 50 points compared to Monday’s (12/07/2010) closure, and a drop of 337 points compared to last Tuesday’s levels ( 06/07/2010). Tankers also faced a second consecutive week of dropping rates as demand from the US and Far East continues to drop.
The BDTI, Monday (12/07/2010), was at 789, 35 points down and the BCTI at 812, a decrease of 6 points from last Monday’s levels (05/06/2010).
Chartering
With almost non existent activity noted in the iron ore trade and demand for coal remaining fairly weak, Capes continue on their downward spiral reaching now a more than 14 month low. The steep decline of the fall noted these past 2 months has severely depressed market sentiment making it hard for owners to fight of any further drop, while the large numbers of newbuilding deliveries entering the water every week provides charterers with more than ample tonnage to push rates down further.
Panamaxes continued to lose ground as activity is still at the low end especially in the North Atlantic. The was some improvement in the ECSA market as fresh cargo orders started to apear. However this seemed to be too little too late, as the number of prompt tonnage in the area provide charterers with the leverage they need to soften freight levels further.
A soft week for Handys as well in both the Pacific and Atlantic basins. The larger Supramaxes and Handymaxes mainly saw activity in ECSA as well as off India were some fresh enquiries started to appear. Smaller handysize vessels looked to perform worse this week as activity in the Black Sea/Cont regions dropped further.
Source: intermodal (by Tasos Papadopoulos)
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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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Showing 5701 to 5705 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
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