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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
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