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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
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