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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
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