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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Planning Commission, India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
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