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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Australian Coal Association
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