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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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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
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