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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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