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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- The Treasury - Australian Government
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