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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, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
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