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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, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
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