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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
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