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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, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
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