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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 $380/ldt for wet cargo.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
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