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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
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