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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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- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
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