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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
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