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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-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
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