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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-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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