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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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Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
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