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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
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