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Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79% this past week, to reach 1,370 points, thus falling below the 1,400-point mark and reaching its lowest level since early February of 2009. Since the beginning of New Year the BDI has plunged by 17.7% and is down by 56% from January 2010. As it turns out, the panamax segment suffered the most this week, while Supramaxes and Handysizes reversed their falls and turned positive.
Regarding the Capesize market, the pace of fall seems to have been reduced this week, ending Friday at 1,556 points, losing 2.45% on the week, but with analysts and shipbrokers claiming that the market has bottomed out. Still, Capesizes are earning around $9,000/day which, according to the latest weekly report from Golden Destiny, it seems that it has triggered the scrapping activity in this segment. In a separate report, N.Cotzias Shipping Group said that “this downfall may reverse soon, as the Queensland floods, can act as a recovery for the rates as longer per ton miles for alternative routes that China will expedite to import their needed quantities of hard coking coal.
Also with the Chinese New Year holidays approaching we may well experience more hypotonic momentum as orders from China will be less at least during the 2 weeks of festive holidays. However this may lead to a pre-stocking ordering get some fresh stockpiling and that may well act as a defibrillator that will give a burst of energy back in the Cape size segment that is in a very critical condition” said Cotzias. In total though, during the past three months, the BCI (Baltic Capesize Index) has fallen by more than 65% and by 62.6% year-on-year, now falling for 19 straight sessions.
Meanwhile, according to Golden Destiny, on the secondhand market front, the purchase interest has shown some signs of weakness as potential investors seem to wait the desired correction in asset prices. “Despite the negative sentiment in the freight markets this week shows some positive signs for the future of the industry. The encouraging signs are that the ordering activity has been eased off by 80% and the demolition activity has been boosted by 150% from previous week activity.
Overall, the week 3/2011 ended with 37 sales reported in the secondhand and demolition market and the highest activity has been witnessed for the first time since January 2009 in the demolition market. In the secondhand market, 17 vessels reported to have changed hands this week equalling a total amount of money invested region US$ 155 million, with 2 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 37% negative w-o-w change and a 41% negative change comparable with previous year’s weekly S&P activity. Investors seem to have lost their appetite for bulk carriers as since the beginning of the year the total number of sales per week is hovering at low levels of less than 10 transactions reported per week. The tanker sector attracted once more most of the buying interest with 7 vessels reported to have changed hands equalling a total investment around of $98 million, around 63% share of the total invested capital in the S&P secondhand market” said the Piraeus-based shipbroker.
In the demolition market, 17 vessels were reported to have been headed to the scrap yards of total deadweight 669,529 tons, with India attracting most activity and still paying even more than $500/ldt. India, Pakistan and China are still taking advantage of the continued absence of Bangladesh. Even though the activity in Pakistan and China has been slowed down the last, there are expectations for an aggressive new year while Bangladesh is still pushing for more permission.
It remains to be seen whether the High Court will lift the current ban on the industry. At a similar week in 2009, scrapping activity was standing at the same firming levels, in terms of number of vessels, as 19 vessels equalling a total deadweight of 589,806 tons were reported for scrap but prices were hovering at much lower levels, around $350/ldt for dry and $380/ldt for wet cargo.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
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