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