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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 $380/ldt for wet cargo.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
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