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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
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