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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
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