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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
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