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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
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