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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, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
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