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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- PTC India Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
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