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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 $380/ldt for wet cargo.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Minerals Council of Australia
- PTC India Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
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