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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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Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Planning Commission, India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
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