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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
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