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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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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- The University of Queensland
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
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