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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
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