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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
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