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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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Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
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