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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
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