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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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