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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Independent Power Producers Association of India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
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