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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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- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
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