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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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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
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