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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Planning Commission, India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
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