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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
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