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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
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