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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
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