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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
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