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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, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- MS Steel International - UAE
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