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Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk market on a downward trend, with the industry’s benchmark, the Baltic Dry Index (BDI) beginning the year exactly like it ended. The BDI was down yesterday by 80 points to reach 1,693 points, among the lowest it’s been since 2009.
Wha’t even more disappointing this time around is that the downward pressure made no exceptions whatsoever as to which sectors it will affect. All various ship segments were down yesterday, reflecting a slump of demand across the board, with the most resilient market until now, the Supramax one taking most of the heat.
According to the latest weekly report from Shiptrade Services, the Capesize market has remained subdued, as was expected. “All fixtures intended to be concluded before the end of the month, were covered in the previous week, leaving very little to report this week. The adverse weather conditions in Australia which have created a chaos across many ports and upset coal exports, has also influenced the market negatively. Prices contracted remain on the same levels as last week.
In the Panamax market the same theory applied as activity was also low. The Pacific is still seeing an overcapacity issue which paired with the current limited demand, is keeping the sentiment down. On the contrary the Atlantic is being maintained on healthier levels. Transatlantic trips are still hovering around the low 20s as per last week. The Supramax sector was also quiet this week. No fresh enquiry was recorded in the Mediterranean and Black Sea. The market seems to have adopted a passive approach as most seem eager to see what the next week will bring. Owners in the Far East have been fixing their vessels on levels similar to the previous week where the opportunity arises, but this is very infrequent and they generally prefer to wait until further enquiry enters the market into the New Year, said the shipbroker”.
In a separate report from Bloomberg, Queensland’s floods are expected to further reduce dry bulk rates, as buyers of Australian coal are already cancelling ship charters. According to the story, “Queensland ships about 180 million metric tons of coal a year, or about a fifth of the global total, according to Sverre Bjorn Svenning, an analyst at Fearnley Consultants A/S in Oslo. The dry-bulk fleet grew 17 percent last year, outpacing an 11 percent increase in haulage demand, the research unit of London- based Clarkson Plc, the world’s biggest shipbroker, estimates.
Total seaborne trade in dry-bulk cargoes, spanning coal, iron ore, grains and other commodities totaled 3.3 billion tons last year, Clarkson estimates.
In terms of ship acquisitions, Shiptrade reported that sales were at very low volumes, whilst there weren’t any price changes. With the absence of BDI reports since Christmas Eve, purchase enquiries declined merely due to seasonality. “However, based on individual regions changes since last week were not dramatic. In the bulker sector Handy size vessels were the popular with Handymax and Panamaxes following closely. In the wet sector MR tankers dominated purchase enquiries whereas other sizes ranged from very low to null levels.
Among the two reported sales was a resale Supramax from STX Dalian yard in China with delivery in 2011. The price is said to be USD 32 Mill but the buyers remain undisclosed. VLCC tanker “Front Shanghai” (271,978 DWT built in 2006 in Nantong, CHN) was reported sold for xs USD 91,25 bill with TC bacl at 35,000/day for two years to undisclosed buyers”, said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Aditya Birla Group - India
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- Price Waterhouse Coopers - Russia
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- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
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- Videocon Industries ltd - India
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- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
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- Australian Coal Association
- Dalmia Cement Bharat India
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- Goldman Sachs - Singapore
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- Romanian Commodities Exchange
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- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Indian Energy Exchange, India
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- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
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- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
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- Directorate General of MIneral and Coal - Indonesia
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- White Energy Company Limited
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- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Tamil Nadu electricity Board
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- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
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- Holcim Trading Pte Ltd - Singapore
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- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
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- Commonwealth Bank - Australia
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- SMC Global Power, Philippines
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- Cement Manufacturers Association - India
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- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Planning Commission, India
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- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
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- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
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- Coal and Oil Company - UAE
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- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Independent Power Producers Association of India
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- Kapuas Tunggal Persada - Indonesia
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