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Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the freight rate this week. According to the industry’s benchmark, the Baltic Dry Index (BDI), the week ended with a small loss of 1.27% at 2727 points, with Friday being the only positive session after five straight losing ones. According to shipbrokers, this week could be a better one, with cold weather in China seen as the major contributing factor to a potential increase of coal demand. Meanwhile, the capesize segment of the market managed to stay ahead of the pack, with Chinese iron ore demand retaining freight rates to very firm levels (weekly gain of 0.64%), while average earnings are now at a healthy $45,657 per day.
According to Arctic Securities, a a drawdown of iron ore inventories in China and high domestic prices were likely to lead to high iron ore imports the fourth quarter. In its weekly report, N.Cotzias Shipping Group mentioned that although this week’s changes were minimal, high volatility is the key of all markets and the constant upswings followed by quick rapid downfalls that are mostly recovered within the month, have caused a greater degree of uncertainty to the market. “Deals are performed but the overall question of most shipping investors is that these shorter term volatility fluctuations don’t really pose investment opportunities based on “proper timing”. How can you time your investments when secondhand prices are considered to be on the “high” side remaining fairly stable and don’t have the time to follow the ups and downs of the freight markets? In any case what can still be considered a blessing is that the dry bulk market daily earnings are well above any critical survival levels and only expensive ships acquired during the Feb 2007 - Jul 2008 period with a greater degree of leverage, can be considered as possible “sufferers” even at today’s rates” the shipbroker said.
In terms of deals, Golden Destiny reported 31 sales in the secondhand and demolition market this past week. The highest activity has been witnessed in the newbuilding market with 25 orders reported in total. In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested around of $367,250,000, with only 1 transaction reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 35% negative w-o-w change while is standing at same levels of previous year’s weekly S&P activity in terms on number of transactions. The bulkcarrier sector attracted most interest from the investors’ side, with an investment capital of $274,400,000, around 74% share of the total invested capital in the S&P secondhand market.
“In the demolition market, 11 vessels reported to have been headed to the scrap yards of total deadweight just 443,712, with the most of activity being concentrated on India. In terms of reported number of transactions, the Demolition activity has been marked with 57% positive w-o-w change whereas the demolition activity mostly concentrated on smaller size vessels. In terms of scrap rates, the highest scrap rate has been achieved this week in the dry sector by India for two Ro-Ro / passenger vessels at $ 465/ldt.
At a similar week in 2009, just 3 tanker vessels were reported for scrap equalling a total deadweight of around 172,278 tons, two of them headed Bangladesh and one Pakistan, at a price around $320-330/ldt The Greek presence has been noticed this week in the secondhand market with 5 transactions reported, three in the bulkcarrier sector, one in the tanker sector, however the company is US listed and one in the Gas tanker sector, equalling a total amount invested around US$ 140,600,000, while in the newbuilding market just one order for four Post Panamax Containers was reported at private terms.
In the newbuilding market, 25 vessels reported to have been ordered equalling a total deadweight of 2,975,300 tons, while at similar week in 2009 15 orders have been reported, 10 in the bulkcarrier and 5 in the Tanker sector. The total invested capital in the newbuilding business estimated to be around of of US$ 1,019,800,000, while 16 transactions reported on private terms. In terms of reported number of transactions, the newbuilding business has been marked with a 47% positive w-o-w change with Bulk carriers, Tankers and Containers being in the front line. This week the Greek presence was noticed in the Container sector, with an order for 4 8,500teu vessels, contracted at private terms, however the deal is rumoured to have some subjects attached” reported Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Australian Coal Association
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
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