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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Posco Energy - South Korea
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
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