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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- VISA Power Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- White Energy Company Limited
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
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