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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-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
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