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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bid to relieve part of the market’s oversupply of vessels. Yesterday, the Baltic Dry Index lost further ground to end the session down by 1.91 percent to 1,795 points, weighed down once again by the ailing capesize segment, which lost an additional 2.5 percent.
As shipbroker Fearnley’s put it in its latest report, “Santa Claus didn’t come early this year”. Commenting on the Capesize market it mentioned that “whilst there has been anticipation in the market that bottom would soon be reached, rates continue to drop. For Australia to China, charterers are now targeting below USD 8 pmt, with last done at very low 8s. Tubarao/Qingdao is slowly approaching USD 20s, although there has been some resistance on this route. All in all the market needs a Christmas break, and hopefully activity will be speeding up early next year. However as it looks right now, expectations remain poor” said the report.
A similar situation is described for the panamax segment. “The Panamax market experienced limited activity and consequently continuous softening of rates in both hemispheres. The FFA´s traded steady arnd USD 16k for Q1, while 1 year TC period in the physical market was pending arnd USD 16-17k. Not many signs for market recovery last days of this year, especially Pacific has an oversupply of tonnage and lack of new orders to back up. Question now if market reached a level where owners and operators start picking tonnage again. Prompt Atlantic rounds fixed at USD 19-20k while the Pacific rounds sub 10k” it said.
As for the smaller ship segments (Handy/Supramax), Fearnley’s said that “not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless large Supras are achieving USD 21/22k for TA rounds – 2/3 laden legs within the Atlantic which is actually not bad at all. As advised the pre-Xmas rush is keeping the market afloat but a large amount of tonnage is pouring into the Atlantic (ballasters from India etc.) and this should exerce downward pressure on rates by end Dec/1H Jan. USG is quite active on the petcoke side. Outlook: Flat.
The FEast has been under real pressure over the past week. With the holiday season here owners are keen to just get vessels in employment with quick business then see the direction in the new year. Vessels are fixing for Indo rounds in the low 10´s and even hear of a large Supra fixing sub 10k opening N.China for a trip to India. Nopac rounds are also few and far between but paying a tick more. Off WC India tonnage has been somewhat tight and the level seems to be around 15/16k for trips back to China with iron ore” Fearnley’s concluded.
It’s worth noting that a year ago, the BDI was standing at a hefty 3,258 points, up by more than 40% from today’s levels of below the 2,000 point mark. Still, activity in the demolition market is still on the low side, despite the fact that current rates offered by shipbreakers are at spectacular levels since the beginning of the year. Shipbrokers Golden Destiny said that “China is bidding aggressive rates by paying $450/ldt for dry/general cargo and India being close to break the barrier of $500/ldt for wet cargo.
Bangladesh is still not fully reopened but a small movement has been recorded in last days with some vessels being beached in Chittagong, which seems promising for the future of the leader country in the shiprecycling industry. This week closed with 7 vessels reported to have been headed to the scrap yards equalling a total deadweight of 575,804 tons, indicating a 56% w-o-w decline. Tankers remain on the spotlight with positive demolition figures almost per week, whereas demolition activity in the container sector is standing at virtual standstill since the beginning of December. At a similar week in 2009, 16 vessels were reported for scrap equalling a total deadweight of around 343,305 tons while demolition countries were paying $300-$330/ldt for dry/general and $320-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
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