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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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Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
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